On The System Of Laws Against Insider Trading

Insider Dealing is an accompaniment to the securities market, but it hinders the healthy development of the securities market. What's insider dealing on earth? How to prevent insider dealing? What is the theory of liability fixation of insider dealing? What is the doctrine and how to take the legal responsibility. Thesis herein talks about these problems and proposes suggestion on perfecting legal system of prohibiting insider dealing in our country.The first chapter discusses the emergence of legislation on prohibiting securities insider dealing and the legislative situation at home and abroad. The view on prohibiting securities insider dealing has been recognized by international society widely. Every country has aggravated the force of penalty. The cooperation among countries has further strengthened.The second chapter analyses component elements of insider dealing: insider information,insider personnel, insider dealing behaviour.The third chapter discusses both positive and negative theory on prohibiting securities insider dealing. It refutes the view about right theory, harmless theory and banning inefficiency theory of approving insider dealing. It has the valuable functions of upholding the equality and justice of secilrites market and improving the efficiency of disposing the resources to prohibit securities insider dealing. Thesis herein discusses the theory of liability fixation, possession theory, fiduciary duty theory, misappropriation theory, tipper-tippee theory, temporary insider theory around the main thread of relationship of reliance.The fourth chapter discusses how to establish the mechanism of taking precautions against securities insider dealing. It concludes: the enforcement of the disclosure of information in securities market, the entitle to the interest of short swing trading being to the corporation, prohibiting insider personnel from exchanging the stock of their company, establishing the self-discipline mechanism of preventing the integrated securities house from insider dealing-Chinese Wall.The fifth chapter discusses the legal responsibility of insider dealing: administrative liability, civil liability and criminal liability. The article proposes suggestion on establishing and perfecting insider dealing civil case system in our country.