| 英文摘要 |
In the cases of securities misrepresentation Infringement, in order to mitigate the stringency of joint and several liability, the newly emerged proportional joint and several liability is inconsistent with the “partial joint and several liability” constructed the type of infringement by several persons in the context of environmental infringement, cyber infringement, and other types of infringement by a number of persons, thus, the doctrine of “semi-superimposed causation” in separate torts should not be applied by analogy. Under the policy of “consistency between fault and liability”, the joint and several liability design in proportional joint and several liability makes it different from proportional liability, in terms of liability effect, it can not only avoid the perpetrator of negligent misrepresentation to bear the liability for all the damages, but also can better distribute the risk that the infringed will not be fully compensated.
Securities trading activities rely on the completion of several subjects in various aspects of the agreement, and the infringements of the responsible parties who bear proportional joint and several liabilities may accompany the entire process of securities issuance, or ring inextricably linked, or by reference to each other, it is difficult to identify the proportion of external responsibility in terms of the size of the causal force. Therefore, in the external relation, the degree of fault of the perpetrator of negligent misrepresentation should be considered to determine what percentage of joint and several liability the perpetrator should bear externally, this emphasizes the importance and feasibility of fault and scope of obligation in determining external proportion. As for the internal relationship, all responsible persons must be taken into consideration as a whole, trying to distinguish different responsible groups, and then delineating the internal proportion of each specific responsible person. |
