On The Use Of The Crime Of Undisclosed Information Transactions

Using of the Crime of Undisclosed Information Transactions, mainly aims at is the“Rat problem” which is well known in the securities trading market. From2009to now,it has dealt with a lot of the rat behavior of fund managers, effectively maintain thenormal order of the financial market. Although it has made a series of achievements forthe present situation, but it is undeniable that in the course of judicial practice, thereare still some need to be perfected. In this paper, I combine with the characteristics ofthe two cases, Ji Minbo and Li Xuli, and in-depth analysis some of the problemsexisting.Firstly, there is no accurate definition of standards for how to define“the undisclosedinformation” as the basic concept at this stage. In this paper, I propose undisclosedinformation is which affects market investment business in the future, in addition toeffectively related to the company substantial benefits. It is involved in a wide range,and has characteristics, like the openness, the importance, the contents of relates tofuture investment and others. Secondly, there is no clear criteria for “the use ofbehavior identified”, in Criminal Law. Combined with the situation in judicial practice,I believe that, to be identified whether the perpetrator advantage of his position, shouldgive full consideration to the relationship between the time point when he getsundisclosed information and the point in time that he transacts. In addition, we canre-allocation of the burden of proof on the evidence in the criminal law, and we canidentify “utilization behavior” through a variety of ways combined. Furthermore, forthe crime of behavior, this paper argues that most cases in the judicial practice is“expressed or implied in others’ transactions”, it is a concrete manifestation of clearlyinform others who can be traded, who can imply in a positive way and that suggestsothers related transactions in a negative way.In connection with the two cases in this passage and from the current circumstances ofthe case and the evidence situation, the author believes that Li Xuli should not be takenadvantage of undisclosed information on criminal convictions, and should be no-guilty.For Ji Minbo case, I think, should be convicted of the use undisclosed informationtransactions. In addition, in this paper I discuss in depth for the issue of main bodyscope in the judicial practice and the corresponding accomplice problem. The author believes that the natural range of the subject of a crime should be expanded to includenot only employees, but also should include the non-practitioners who have theopportunity to come into contact of “undisclosed information”. At the same time, theunit should be the subject of this crime. For the problem that how the correspondingaccomplice should be convicted, and whether it should be convicted, I propose thatwhen the behavior of people with no special status seek common, it should be based onthe identity of the principal offender convicted of. When the perpetrator of this crimeas an accomplice with no special status conspired, he can be convicted for thisaccusation, and also can be convicted of other accusation.