Improving China's Civil Compensation System Of Inside Securities Transaction

Insider Trading and civil compensation system is a listed property company investors and the securities have been violated insider trading after the insider trading law requires people to be the appropriate compensation system. Insider Trading Civil Liabilities arising from the insider trading is based on legitimate property rights and interests of investors, the damage caused by the civil remedy, its characteristics are: First of all, the wishes of civil action from investors point of view, Insider Trading and Civil Action focus on compensation, which would require insider transactions for investors who suffered economic loss to give some compensation; Second, the securities insider trading often involves a large number of victims and the main structure of the complex, the amount of compensation involved is very often huge. Insider trading is a civil compensation system to protect investors interests of the final remedy, the system covers the substantive law and procedural law to the many aspects of the four parts of this article to a civil insider trading of securities the compensation system for analysis and research.The first part of the basic theory of Insider Trading be analyzed. First, based on the concept of insider trading related to define, that is, the main body of insider trading, insider information and insider trading, insider trading in securities determined by the specific content involved. Secondly, with regard to civil liability for insider trading behavior, scholars have some different opinions, different nature of the responsibility of liability may lead to different principles. This insider trading by the foundation and basis of civil liability that the civil liability should be tort liability. Next, by the nature of civil liability for insider trading derivation of responsibility principle of civil liability and to analyze the specific elements. At this point, the content of insider trading, civil nature of the Civil Responsibility of the establishment of Insider Trading and the theoretical basis of civil compensation system.The second part describes the insider trading of Securities The main significance of the civil compensation system and the existing deficiencies. China's stock market has been made at this stage that the achievements of the world's attention for the rapid development of China's economy has made tremendous contributions to the stock market is gradually building the system were perfect, but insider trading as the system of civil compensation system an important element in building not really improved and perfected, a number of insider trading by the Securities huge losses suffered by investors who claim no one to turn, and illegal insider trading is also difficult to lower the cost of containment of illegal behavior. Therefore, a sound and comprehensive system of civil compensation Insider Trading has a very important significance. Insider Trading and complete the first step in a civil compensation system is the analysis of the current civil compensation system inadequacies that exist, through the substantive law and procedural law of the analysis, the main response to the scope of Insider Trading in China to perfect and refine Insider transactions should bear the civil liability of the content, clear Insider Trading and civil damages proceedings.The third part discusses insider trading of securities in the substantive law of civil compensation system should be both improved. The one hand, insider trading is how to determine the scope of damages for rights holders, that is what people have filed civil suit for compensation of the main qualifications. Through the analysis of transactions, and the trading hours of the definition of insider trading damages would limit the scope of the rights of people with insider trading at the same time for the contrarian investor and loss of goodwill; on the other hand is how to determine a civil insider trading the scope of damages, including defining the principles and specific on how to count the amount of compensatory damages.The fourth part of the first civil suit for compensation of Insider Trading in the pre-program analysis, pointed out that decisions of administrative punishment and criminal procedure as the pre-Civil there are some flaws, as the improvement of our judicial system and judicial resources, the rich Final will cancel the pre-degree. Then on the basis of representative action system - U.S. class action model, the Japanese selected party system - were analyzed, and the specific conditions of China, pointed out that the system of representative action which can be improved. Finally, the complicated procedures of the securities litigation group, the party high cost of rights, it is necessary to establish alternative dispute resolution mechanisms of securities, in particular develop securities arbitration system that meet the situation of China's securities market.