金融司法对证券诉讼的限制,体现在案件受理前的筛选机制、受理附加条件、审理中调解偏好等方面,其形成有着司法资源约束、地方司法保护、司法运行惯性等多种原因。排斥性司法是资本市场上违法行为多发的重要制度诱因。违法行为多发及司法保护缺失的双重预期,引发投资者规避策略的运用,导致市场过度波动、交易成本升高、资源配置效率降低等不良后果。当前司法政策与我国金融发展目标之间存在根本矛盾,包容性司法应当成为金融司法改革的目标选择。 The restriction of securities lawsuit on securities litigation by financial justice is reflected in various reasons such as the screening mechanism before admissibility, the admissibility of additional conditions, and the preference of mediation in trial. The formation of judicial litigation restrictions, local judicial protection and the inertia of judicial operation are the reasons. Exclusion of justice is an important institutional incentive for the frequent occurrence of illegal acts in capital markets. The multiple expectations of illegal activities and the lack of judicial protection have triggered investors to evade the use of tactics, leading to excessive market volatility, higher transaction costs, and lower resource allocation efficiency. There is a fundamental contradiction between the current judicial policy and the goal of financial development in our country. Inclusive justice should be the target choice of financial justice reform.