Crime Of Insider Trading Study

With the security market development, the insider trading is becoming moreand more serious in our country. However, the theory and study about insidertrading is not able to deal with such problems felicitously. Some theoreticalproblems have not been solved, such as "what is insider trading", "the definition ofinside information", "the constitution of the offense of security insider trading","how to deal with insider trading in Criminal Code". So the research of securityinsider trading is very meaningful. That's the reason of writing the thesis.The thesis has 4 parts:PartⅠ: the conspectus of insider trading. First, the thesis introduces the historyof the punishment of the insider trading in other countries. Afterwards the thesisupholds the definition of insider trading in the current Criminal Code, afteranalyzing various definitions raise by different experts. Then the thesis analyses theconnotation of inside information. The inside information has 4 characteristics:relative, of a precise nature, unpublished, significant. And the thesis has a fulldiscussion about the 4 characteristics.PartⅡ: the constitution of the offense of insider trading. This part is the focus ofthe thesis, having a full analysis about the constitution of the offense of insidertrading. This part departs with 4 sections. The first section is about criminal object,with the viewpoint which the offense hurts the complicated object. It includes theorder of security market, the company's legal right, and the investor's right oftrading fairly. And the thesis has an analysis about various viewpoints. The secondsection analyses the subject of the insider trading. After comparing different waysof classification in different countries, the thesis raises the unique way ofclassification. Then the thesis analyses whether or not the offense is special subjector general subject, upholding the viewpoint of special subject. After that, thesection analyses the putative subject, opposing the establishment of putativesubject under the actual legal circumstance. The third section has some analysis ofthe mens rea of the insider trading. The thesis mainly opposes the application ofstrict responsibility and inversion of the burden of proof in the field of CriminalCode. Then the section has some analysis about the meas rea of the offense, including the content of the mens rea and the mens rea of information accepter.The fourth section focuses on the analysis of the behavior of the offense, mainlyexpounding the 3 ways of insider trading. The thesis upholds that the way ofsuggesting others buy some relative security should be punished by Criminal Code.Then the section has some analysis about the exceptions of the insider trading,upholding that the exception should be stipulated in the Criminal Code.PartⅢ: the cognizance of the offense of insider trading. This part has 4 sections.The first section gives the analysis of the charge. The charge should be the offenseof insider trading. The second expounds the difference between the guilty and thenot guilty. The third analyses the number of charge of the offense of insider trading.The fourth discusses the difference between the offense of insider trading and otheroffenses.PartⅣ: the criminal punishment of the offense of insider trading. This partgives some suggestions in order to better apply the theory to practice. For instance,"differentiate the legal insider and illegal one in criminal punishment", "increasethe amount of fine penalty to institutional criminal subject".