Discussion Of The Legal Regulation Of Insider Dealing In Chinese Security Market

The security market is the place both the capital provider and the capital demander trade the capital use right. The wholly effective market should be the one characterizing itself with open and unsymmetrical information. To make the security market effective is to guarantee each investor has the right to acquire the information. Having been deemed as the chronic illness in the security market, insider dealing refers to the illegal behavior that the insider information holders make use of it to conduct the security trade. Insider dealing would not only seriously derogated the principles of"open, equal and fair"on the market and disturbed and destroyed the normal order of the security market, but also seriously done harm to the legal rights and interests and the investing confidence of the investors, the issuing companies and the relative intermediaries, and even damage the whole security market as well as the whole national economy. As the increasing acknowledge of perniciousness of insider dealing, many countries have known that legally regulate the insider dealing is the vital palladium for the security market and have legislated to regulate it respectively. The factors, such as the insufficient open market, dysfunctional laws and regulations, unforceful supervision, have forced China not to be the clean land for insider dealing any more and its harm to the security and the national economy is obvious. This article respectively analyzes the constitutive requirements of insider dealing, discusses the defects and characteristics of insider dealing in the security, and eventually puts forward some legislative suggestion so as to prevent and crack down insider dealing and secure the healthy and stable development of our socialist market economy.