Legislative Evaluation Of Securities Crime

Securities market is usually called the"windows of economy". Its fluctuations directly reflect the ups and downs of the economy, and therefore closely relate to the development of the nation's economy. The standardization of securities market is the presupposition of the healthy development of overall nation's economy. From the 1980s, Chinese securities market has made considerable progress. Along with the rapid development of the securities market, Chinese securities crimes are getting worse and worse. In order to curb securities crime,"Criminal Law of the People's Republic of China"made some of provisions, including the crime of leaking insider information and the crime of manipulating securities market. However, there are many inadequacies in these provisions, such as uncoordinated stating counts and crimes settings lag. In order to make up for the shortfall, the legislature has perfected these in the form of amendments to the Penal Code. But these changes are still poorly. Especially in 2005, we need to perfect criminal legislation on securities crime because of the promulgation of new version of"Law of the People's Republic of China on Securities". Based on the above considerations, the author entitles the thesis as"Legislative evaluation of securities crime". In the thesis, the author details the legislative overview of foreignness, China's Taiwan region as well as China on the basis of introducing the concept, the constitution and legislative foundation of securities crime. Then the author analyzes the legislative model of securities crime. Finally, the author makes a number of recommendations on perfecting the legislation of China. 5In addition to the introduction and conclusion, this thesis is divided into four parts, about 30,000 characters.The first part is about the outline of securities crime. The author talks about the basic theoretical issues of securities crime, including the concept, the constitution and the legislative foundation. First, the author discusses the concept of securities crime. We don't have a unified view on the concept of securities crime at present. Through the analysis and comparison of several representative viewpoints, the author defines securities crime as the behavior which violates securities laws, seriously damages the order of the securities market and should be held criminal responsibility in accordance with the law. Then the author discusses securities crime from four aspects of the constitution. Finally, the author talks about the foundation of criminal legislation from the necessity and special function. The purpose of this part is to lay the theoretical foundation for the questions discussed below.The second part is about the legislative overview of securities crime. First, the author introduces the legislative overview of foreignness and China's Taiwan region. Foreign legislation is divided into non-statutory stage and statutory stage. The author details the legislation of the United States, Britain, Japan and Germany. Then the author introduces the legislative overview of China which is divided into two phases according to the promulgation of the new Penal Code. The author focuses on the legislative overview after the enactment of the new Penal Code, including the contents of amendments to the Penal Code. Especially in 2005, the new version of"Law of the People's Republic of China on Securities"adopts a broad provision to stipulating the criminal responsibility of securities crime, which makes the type of securities crime become more confused and more difficult to operate. This part lays the foundation to the third part.The third part is about the analysis on the legislative model of securities crime. First, the legislative model of foreignness and China's Taiwan region is divided into general model and specific model in order to analyzing. The general model can be divided into three types: the unified code, separate securities criminal law, accessory criminal law. The specific model can be divided into three categories: centralized model and distributed model, the model of a crime with a punishment and the model of several crimes with a punishment, counts clarified model and articles violated model. Then the author introduces the legislative model of China, which can be called: the unified code from the macro perspective, distributed model and the model of a crime with a punishment from the moderate perspective as well as counts clarified model from the micro perspective. Finally, the author points out four defects of the legislative model of China: the confused classification of securities crime, lacking of uniformity and coordination between securities laws and Penal Code, securities criminal laws applying difficulties as well as the defect of punishment. This part points out defects of the legislative model of China, establishes the target, and lays the foundation for the legislative perfection.The last part is about the legislative perfection of securities crime of China. First, the author expounds four basic legislative principles of securities crime of China: the principle of last resort, the principle of coordination, the principle of proportion and the principle of effectiveness. Then the author thinks that we should choose the legislative model of China from two angles. From the view of future, we should form a model with accessory criminal law as its core complemented with the Penal Code. However, in the real context, we should choose the model of the amendment to the Penal Code. Finally, the author put forward two recommendations on the improvement of legislative contents. First, we should strengthen the convergence between"Criminal Law of the People's Republic of China"and new version of"Law of the People's Republic of China on Securities". It is urgently necessary to provide the crime of illegal providing funds or securities and the crime of making false statements, giving misleading information in the course of securities trading. Two specific criminal articles are conceived. Second, the system of punishments should be improved. We should expand the use of the fine punishment, standardize the applied criteria, and adopt the daily fine punishment which is increasingly popular in many countries of the world. And we should increase "prohibiting employment" for punishment.