| Every investor should get market information as equally,quickly and wholly as possible in a equitable securities market,and this is the basic rules. Insider trading seriously breaks the normal system of securities market,disobeys the principle of equity,honesty and publicity and does harm to securities dealing.It's only about ten years since securities market of China was born. We have no mature theories and practice on insider trading,so using the experience of other countries for reference is very important. Some other developed countries,such as USA,German,UK and Taiwan,have had a long term development on securities market and have formed better legal system on insider trading. Therefore the author systemically expatiate and study on legal regulation of insider trading,adopting a method of comparative study,mainly consulting juristic system of UK,USA,German and Taiwan,relating legal and economic principles and national legislation practice.This Article has mainly discussed in five parts. The first part has expounded the basic theories and ideas of insider trading. The second part carefully states current theories about insider trading.. The third part has analyzed the legislation in some developed countries such as UK,USA and German with the comparative method. The fourth part has study on the legislation and current statement of insider trading in China. The last part of this article give some personal advice on the consummation of the legal regulation of insider trading.The Article has emphasized particularly on the basic theories and current statement and some existing problems in the legal regulation of insider trading in China. Academicians have give many opinions towards current problems in legal regulation of insider trading in China,and author also put forward some personal suggestion.
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