| The insider trade is an ordinary phenomenon in the stock market, and the research to it is of great significance. This paper first tells us what the insider trade is. The author believes the insider trade includes three parts: the insider, the insider trade information, the insider trading. Among them, the insider includes traditional insider, temporary insider, news accepter; the insider trade information must satisfy the three standards of closure, significance, certainty; and the insider trading presents various characteristics. After that, the author employs the theory of legal economic to tell us it must be regulated. On the base of the analysis, the paper compares and analyzes several regulating systems abroad, and discusses the concrete reason, the special environment, the present situation and the shortages of the insider trade regulating system in our country. Facing the future's new situation of the insider trade in our country, under the entire circulation macro market environment, after that, the author discusses in detail the external environment modernization which includes the consummation of the credit system and the market system, the information disclosure system and the company's legal system, and the"Chinese wall"system those three prevention systems, which includes the consummation of the regulating system, the establishment of the individual almsgiving, as well as the modification of the law aims at the insider trade. Among them, the consummation of the regulating system includes the construction of the dynamic insider trade regulating system, the formation of a distinguishing system and a unified supervising and managing model, the establishment of a reasonable moderate criminal supervising and managing system, the consummation of an autonomy regulating system, and the strengthening of the supervising and managing from the public and so on. All those methods are the best approaches to consummate the regulating system of the insider trade in our country. |
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