| A lot of developed countries look opposing Insider Trading as a flag of securities legislation. Most part of counties, including China, make banning Insider Trading the important part of securities law. Defining the conception and the jeopardy of Insider Trading and improving supervision legal system of securities have great significances on the development of securities market, especially to China which is in the first stage of securities market at present. Almost studies on Insider Trading place emphasis on introducing the theories and cases come from the developed counties, concerning seldom the actually insider trading under the situation of our nation and how to improve the supervision system in China. The article is on the basis of the actual situation of China, taking the methodology of comparative study and positive study. Comparing Chinese supervision system of Insider Trading with that in the USA, as well as introduce all kinds of supervision system home and abroad, the author points out the advantages which should be used for reference in Chinese legislation and discusses the definition of Insider Trading and the reasons for the existence of Insider Trading as well as the defects of supervision. From all opinions the author has mentioned, he puts forward the perspectives of improving supervision system of Insider Trading in China.There are four chapters in this article.Chapter 1 The discussion of the theoretic problems.By analyzing the defects of different conceptions of Insider Trading, the author puts forth the definition of Insider Trading of his own, from the three aspects including the insider, insider information and insider behavior. The author discusses thetheoretic basis of Insider Trading in depth.Chapter 2 Comparing the Chinese supervision system of Insider Trading with that in the USA from the aspects of preventive mechanism in advance, the supervision mechanism in the processes and the punish mechanism afterward, the author points out the systems should be used for reference by Chinese legislation.Chapter 3 By illustrating the typical supervision system of Insider Trading in the world and the advantages and disadvantages of it, the author generalize the status guo of supervision in China and analyzes the defects in the system, the legislation and the enforcement of law. The author shows his opinions by combining with the actual situation of China.Chapter 4 The author puts forward his perspectives of supervision system in China that are reform of supervision system, completion of the system of enforcing law, improvement of preventive system and supplying gaps of civil procedure.
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