On The Crime Of Insider Trading And Disclosure Of Inside Information

ABSTRACT The Crime of Inside Transaction and Divulging Inside Information are serious crimes. Since the crime involves a lot of special knowledge of stock exchange and finance, one need to combine the studies of Criminal Law and the law of finance and stack to study the crime. Stock exchange is a new trade in China. The crime of Inside Transaction is especially a new problem. I give a brief introduction of the development and current situation of the Crime of Inside Transaction and Divulging inside information in part I. In parts II桰V, I expound in detail the definition and features of the Crime. At last I give a brief account of the crime and the punishment therefor. I think that the act of inside transaction and Divulging inside information is very harmful to the society, the financial market and even the whole market economy system. It is a very serious financial crime. The p act should be regulated as a crime in the criminal Law. As for the conviction of the crime, I favor the theory of �'elective crime? I think that Artide 180 in the 2 -v Criminal law should be nominated as the Crime of Inside Transaction and Divulging inside Information. I am against using the formulation of 揅rime of Inside Transaction?or Divulging the crime into two crimes including the crime of Inside Transaction and the Crime of Divulging Inside Information. I hold that the Crime of Inside Transaction and Divulging Inside Information is a general subject. Anyone who abuses or divulges inside information can commit the crime. Secondly the object of the crime is complicated. The crime harms the normal order of the stock market and the legal rights and interests of other investors. Thirdly the crime can only be committed intentionally. Leading inside information unintentionally is not a crime. Fourthly, the objective aspect of the crime is that the person concerned makes profits by means of inside transaction or divulges inside formation in a very serious way.