Legislations And Supervision Systems Of Insider Dealing In U.K.

As currently affects the healthy development of the capital market of the malignanttumor, Insider trading has been the subject of judicial authority and securities regulatorsfocused on investigating and combating. In recent years, the insider trading is renovatedceaselessly at capital market, the number of cases is rising trend of securities market, and theproblems of serious damage to the interests of investors, blow to the confidence of investors,and it has greatly hindered the healthy development of China’s securities market.The British in the regulation of insider trading has mature experience and relevantlegislation, the law enforcement system, which are worthy of attention and draw lessons from.In the aspect of legislation, case law tradition as a strong nation, based on the self-disciplinemanagement mode, England in the insider trading related legislation is fairly complete. In theimplementation, the securities regulatory authority is the most authoritative and most strictfinancial supervision mechanism, effective coping and against insider trading. These goodexperiences on insider trading in China has a very good reference.This paper is divided into four parts:The first part introduces the regulation of insider trading legislation. Including1948’s"company law", the" company law" in1980,1985" company insider trading in the securitieslaw,"1986"," financial services law. At the same time introduces" the financial services andMarkets Act2000" of the relevant provisions of the European Union, as well as insidertrading legislation influence in britain.The second part undertake the first part, separated by" the financial services andMarkets Act2000", was introduced to the UK in two phases with different regulatory patternsand their changes." The financial services and Markets Act2000" promulgated before theBritish securities regulatory domain prevails completely self-discipline supervision mode,which itself contains its rationality but also has many problems, this paper are involved. Thispart focuses on the" the financial services and Markets Act2000" after the promulgation of the regulation system of securities insider trading.First, introduced" the financial services and Markets Act2000" background andlegislative motivation, in two aspects of the legislation, the financial services regulatoryauthority FSA background and FSA was founded in England in the securities regulatoryhistory significance.Secondly, expounds in detail the financial services regulatory authority FSAorganizational structure and the important status, including the FSA organization form, theinternal components and FSA achieve regulatory objectives basic principles etc.Third, specify the FSA of insider trading in securities market supervision means andregulatory process and forms of punishment.The third part based on the part of the content, introduces in detail the FSA FSAinvestigate and deal with insider trading execution and relief system. This part also introducedthe FSA court of administrative punishment on insider trading of judicial review, as the rightsof the parties the last guardian, the FSA court of an important role also nots allow small gaze.The last part of a brief statement of the British securities insider trading regulation itsreference significance to china. This part of the contents of insider trading legislation betweenChina and UK legislation difference, proposed to improve or is worth to draw lessons fromBritish legislation in many aspects. Finally, the macro description of China’s insider tradingregulation mode and the UK regulatory mode, clear China Securities Regulatory Model statusand challenges.