On Civil Liability For Insider Trading

The dissertation, utilizing study methods of comparative analysis, structure analysis, case analysis, provides a detailed jurisprudential interpretation of the civil liability concerning insider trading in securities transaction. It stretches the analysis deeply into the elements of the liability as well as its application. Based on these analyses, the article puts forwards some constructive opinion on the establishment and perfection of civil liability legislation concerning insider trading in China.The dissertation is divided into four chapters besides introduction and conclusion.Chapter I : Demonstrates that there are jurisprudential basis on the establishment of civil liability legislation of insider trading. The dissertation firstly makes an introduction on legislations of some countries, then analyses on the jurisprudence of insider trading prohibition, principle of liability imposing in the law of US is referred to. Finally ,the author rises his view on the essence and function of legislation of civil liability concerning insider trading.Chapter II: Argues that elements of traditional liability of tort bear the functional demerits that will both restrict liability construction and circumscribe the scope of liability, though they are significant in protection of freedom of individuals. Nonetheless, the essence of securities law being the social standard rises critical challenge upon them. In this chapter, deep probation is made into the elements of civil liability of insider trading such aspects as object ,subject and violation of law. In an effort to respond to the challenge infra mentioned, theoretical compromise and adjustment is made.Chapter ffi: Discusses some factors affecting assumption of civil liability in the litigation of tort, which will be the key factors in the establishment of the legislation concerning civil liability of insider trading.. Firstly, the reason of an action must be settled. Secondly, Views in alien laws on the scope of subjects who are entitled to claim is expounded. Thirdly, Comparison is made of class action in China with that in U. S. Finally, Some introduction is made on several ways of how todetermine the damages, the author rises his opinion.Chapter IV: Stresses the importance of establishing the legislation concerning civil liability of insider trading, and points out that Securities Law of PRC failed to form the legal institution.. Based on the comprehensive review of the related laws, regulations and judicial interpretations, the author puts forward his opinion from the perspectives of both a substantive and procedural angle on the establishment and perfection of legislation concerning civil liability of insider trading in China.