The Analysis On The Crime Of Insider Trading And Inside Information Leaking

Our security market, appeared in the middle of 1980s, improved in early 1990s, has a short term history but glorious achievement, and many kinds of legal violations showed up in such an undeveloped market. The act of insider trading and inside information leaking endangers the normal order of the securities exchange market severely. In order to protect legal rights for the investors and keep the healthy development of the market,it is the first time for our legislative body to make use of criminal legislation to regulate the act to be a kind of crime in 1997.The improvement of this market refers to a legal system, to which a series of theories must support. Fortunately, in the process of the securities exchange, we attach the importance to the legislation against insider trading. although this legislation lags behind the steps of the security market greatly.In the case of HangXiao Steel Structure, it was judged as the crime of insider trading and inside information leaking accompanied by a lot of controversy, it still has some significance to security market of china as well as the valuable for basic research and judicial practice. By listing the controversial points in the case of HangXiao Steel Structure. we study the controversial issues deeply about the insider trading. This paper is divided into three parts:In the first part.this paper introduces the case of HangXiao Steel Structure, including company profile,incident process and trial record. The second part, we raise and analyse the controversial issues, according to identification of inside information, the time on information disclosure and the qualification. At the third part of this paper, it discusses the case of other inside information, analysis of the crime of criminal penalties and make recommendations.