Research On Legal Regulation Of Stock Market "Rat Trading"

"Rat Trading" behavior in the stock market has always existed,Since 2008 when China Securities Regulatory Commission made its first punishment case on the fund market "rat trading" ---- " China International Fund Management Rat ", all kinds of securities market "Rat" discussions and research have increased."Rat Trading"is in essence a transport or transfer between the public interests and private interests. It is not only in securities investment funds, but also likely to occur in stock market behavior involving public funds and institutional investors. As the "Rat Trading" behavior has the characteristics of strong imperceptibility and high rate of return, it severely undermines the confidence mechanism in the market, and means a huge damage to the social public interests at the same time.China's securities market has a short history of surviving from its establishment, there are stock market leading, a large number of state-owned funds, critical administrative intervention, cultural characteristics and system of lacking fiduciary responsibility, combined with deficiencies and loopholes of the legal regulation, for example,"Rat Trading"and other securities violations are now under the conditions of convenience and growth. It should be said that in recent years, our country has not overlooked on this, in addition to the strict investigation on a series of irregularities by the supreme securities market watchdog China Securities Regulatory Commission, the Criminal Law Amendment2009 (7) specifies criminal liabilities of Stock Market Rat.However, such provisions are not enough to effectively regulate securities market rats, there is an urgent need of strengthening further legal regulation on such phenomenon. This article just addresses discussion and research on this issue. The subject of this article is how to conduct effective regulation on"Rat Trading"from a legal perspective.