论《证券法》的民事法律责任制度缺位

《证券法》调整的对象是证券市场上各类主体之间发生的法律关系，这些法律关系中既有行政管理关系，又有民事法律关系，因而是行政法和民商法在证券领域的特别法。作为调整证券发行和交易活动中发生的法律关系《证券法》，法律责任制度失衡，民事法律责任制度缺位，对证券违法行为给投资者造成损失的情况究追民事责任的法律依据不足，因而未能很好地实现保护投资者合法权益的目的。

The Defects in the System of Civil Responsibility of the Securities Law

Concerning administrative and civil aspects, Chinese Securities Law is a special one on the field of the securities between administrative law and civil law, dealing with the legal relationships among those actors in the securities market, and handling the activity of the securities issuance and so on. However, it has defects in the system of the civil responsibility and makes unbalance in the legal liability, and thus cannot provide enough legal basis to find out civil responsibility if an investor gets loss. In a word, it cannot perfectly meet its aim to perfectly protect the investor' legal rights.