Study On Legal Regulation Of Insider Trading In Chinese Securities Market

China securities market has developed rapidly in last 20 years. With more energy,it has been in the part of Chinese economic operation progressively.While,due to lack of transparency in market,inadequacy of market system, there are many problems exposed specially for the insider trading which can not be totally forbidden. Recently years,equity division reform has achieve success in our country,the times of global transit has launched. While the global transit environment itself can not be a system to restrict the insider trading.To certain extend,due to the share held by substantial shareholders of listed company turns to be the circulating shares which makes it possible that there are more motivations to do the insder trading and market manipularion. Insider trading as a by product,exits widely in the securites market all around the world,and the research to it is of great significance. This paper firstly tell us what the sider trade is. The author believes the insder trade includes three parts:the insder, the insder trading information,the insder trading. Among them, the insder includes traditional insder,temporary insider,news accepter;the insider tradding information must satisfy the three standards of losure,the insider tranding, presents vary must the inside trade information of closure.Chinese securities legislation and legal theories are still lagging behind. There are still many deficiencies with respect to insider trading regulation, for example, the vacancies of related theories and regulations, deficiencies in preventative system design, lack of insider trading civil liabilities and slowness of legal enforcement, etc. Aiming at the deficiencies of China's regulation on insider trading, this article puts forward the suggestion that we should confirm the elements of insider trading acts, including expand the scope of the insider people and further confirm the cirteria of inseder information and so on. Confirm and pursue the responsibility of insider trading, which is not only the necessary measures to protcet the obligee but also the important msanction against insider trading, consequently, this article puts forward several suggestion as to perfection of China's insider trading regulation,including elements of insider trading liabilities, promotion of insider trading legal enforcement and establishment of civil relief systems, etc.Presently, Chinese securities legislation and legal theories are still lagging behind. There are still many deficiencies with respect to insider trading regulation, for example, the vacancies of related theories and regulations, deficiencies in preventative system design, lack of insider trading civil liabilities and slowness of legal enforcement, etc. Aiming at the deficiencies of China's regulation on insider trading, this article puts forward the suggestion that we should confirm the elements of insider trading acts, including expand the scope of the insider people and further confirm the cirteria of inseder information and so on. Confirm and pursue the responsibility of insider trading, which is not only the necessary measures to protcet the obligee but also the important msanction against insider trading, consequently, this article puts forward several suggestion as to perfection of China's insider trading regulation,including elements of insider trading liabilities, promotion of insider trading legal enforcement and establishment of civil relief systems, etc.