Study On The Supervision System Of Insider Trading In China

China security market has developed rapidly in last 10 years. With more energy, it has been in the part of China economic operation progressively. While, due to lack of transparency in market, inadequacy of market system, there are many problems exposed specially for the insider dealing which can not be totally forbidden. Recent years, equity division reform has achieve succes 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 dealing. 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 insider dealing and market manipulation.Insider dealing as a by product, exits widely in the security market all around the world, 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.By comparison the principal of law set up and the execution process toward insider dealing between our capital market and that of mature western, it is not difficult to find that for our country, there are many weaknesses existed in this area. The problems existed in related laws and regulations need to be fixed urgently, the supervision method and law execution need to be strengthened. 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.This study will have some positive effect on the healthy development of the market and adequate supervision on the insider dealing. There are four chapters in this article.In chapter one, the article illustrates the Insider Trading. The author defines the concept and the characteristics of the Insider Information and discusses the supervision system of Insider Trading and the necessities of it.In chapter two, the author summarizes the supervision system of Insider Trading in USA.The author summarizes the current law regulations of the supervision system of Insider Trading in USA and the main parts of the supervision system of Insider Trading in USA. They are SEC, court and self-supervision organization and the author introduces the natures and functions of them. The author also summerizes the preventive system in advance, supervision system in process, the punishment system afterwards and the auxiliary supervision of community supervision system.In chapter three, the author analyzes the defects of supervision of Insider Trading in China. The article illustrates the legislation statue quo of supervision and the current supervision system of Insider Trading in our country. The author also illustrates the defects of supervision system of securities,the defects of the system of publicity information of supervision in advance of Insider Trading, the absence of supervision technology of Insider Trading in process and supervision in process and the absence of civil compensation of Insider Trading afterwards and supervision in process.In chapter four, the author argues that the supervision system of Insider Trading in USA has the great significance to that of China. The author illustrates from the following aspects: reform the supervision system of securities in our country, strengthen the supervision in advance, in process and afterwards of Insider Trading of securities and the auxiliary supervision of community supervision system.