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uence the price of securities extent . Secondly, the chain of causation has lengthy , not only many links and lasted a long time. Such lengthy chain , making proof of causation has become very complex, even if the rule of law countries such as the Anglo-American tort liability in misrepresentation causality judgment on the facts , but also to turn to a judge 's knowledge, experience, wisdom and scholars continuously put forward a variety of seasonal theories . Finally, investors are far from the evidence , evidence is often mastered by the perpetrators , ordinary investors generally difficult to obtain . Securities Disclosures civil damage often have numerous investors in class action cases, the difficulty of leaving the burden of proof superimposed action difficult. Trust presumption applies , the original defendant, the pros and cons between the trend reversed, once able to hinder the plaintiff's burden of proof beyond natural moat . Principle of presumption of fraud, trust and market theory , making investors the burden of proof of causation greatly reduced , thus effectively protecting the interests of investors.

Causal relationship is the key to the infringement , the key to success in determining the action of the Department . Trust presumption applies , the original defendant, the pros and cons between the trend reversed, once able to hinder the plaintiff's burden of proof beyond natural moat , making investors greatly reduced the burden of proof , and effectively protect the interests of investors . Safeguard their own interests and rights combined with the possibility of a surge , can effectively mobilize the enthusiasm of investors' rights and improve the disclosure of false information, the opportunity cost , which votes on social supervision of information disclosure . At present China's information disclosure system is not perfect, false disclosure is widespread, Chief for the Suppression of the Securities false information disclosure seem weak and powerless , the annual SFC investigation of misrepresentation cases only very small part of the total number , in reality, the formation of a "Commission punishment , corporate punished , investors pay " vicious circle. Therefore, investors monitor the effective mobilization of enthusiasm can make up for lack of government regulation , reduce regulatory costs , improve regulatory efficiency, and is conducive to promoting China's securities market sustained, healthy and stable development .

Causation of the necessary causality on mining theory, which to some extent, an objective basis for narrowing the scope of responsibility is extremely detrimental to the protection of legitimate rights and interests of victims . In the stock market can not effectively solve the false disclosure tort liability for damages in the issue of causation , but can not implement the Securities Act to protect the interests of investors , the first meaning , can not effectively curb the misrepresentation . The theory requires the existence of violations and results between the intrinsic , essential, inevitable connection that acts only when the harm is bound to lead to the damage occurred only causes harm behavior and the damage can only identify between the results of legal causation relationship . Both common law and civil law Causation in question , taking into account legislative purpose , the balance of interests and other factors. In recent years, the status of l