Study Of The Crime Of Trading On Nonpublic Information

7th Amendment of Criminal Law adopted on February28,2009provide for theCrime of Trading on Nonpublic Information. This Amendment has provided legalbasis for restrain the action of Rat Trading and filled in the gaps in Criminal Law.However, for the shortage of Judicial Interpretation, several knotty problems ofthis crime must be solute in judicial practice. For this reasons, the author startswriting this thesis.The author collected the data and information through the key words like RatTrading, Crime of Trading on Nonpublic Information, Nonpublic Information,Insider Information, got more than ten thesis as the references. In addition, theauthor found some cases in the Internet. About ten professional books about thisissue was reading. The body of this article consists of five chapters.Chapter1: summarizes the legislative background and connation of the Crimeof Trading on Nonpublic Information. Through defining the concept of "RatTrading" and introducing the cases of Tang Jian and Wang Limin, the author drawout the subject of this thesis. By analysis the law, the author defines the concept andthe constitutive characteristic of the crime. At last,the author analysis the legalinterests.Chapter2: Put focus on Nonpublic Information. In order to understand Crime of Trading on Nonpublic Information, Nonpublic Information is the most importantpoint. In the Criminal Law, the Nonpublic Information is "other undisclosedinformation than the inside information". The author compares the range of theinsider information of our country and EU, America, England and other countries.Through this way, the author gets the definition of the Nonpublic Information. Next,the author analysis the characters of the information. On the basis of practice, theauthor lists the common Nonpublic Information.Chapter3:analysis the constitutive characteristic.FIRST,the Subject of crimeis expounded. In this part, the employee in this crime means the person who relate tothe Finical Futures. The means of duties are defined. Then,the author try to explainthe subjective aspect, give focus on the criminal intent and "clearly know", solute thequestions in practice. At last, the author discusses the objective aspect."use","profitor not","expressly or implicitly"，"serious" and so on are mentioned. The authorthink there are many problems in this part. Several suggestions are suggested.Chapter4:compare this crime and other crimes. In this part, the author comparesthe different between this crime and the crime of insider trading, the crime of usingfunds illegally, crime of manage similar business illegally, the crime of themanipulation of the securities and futures markets, crime of position encroachment,crime of breaching business secrets. The author hopes this contrast can be helpful inpractice.Chapter5:give suggestions about the crime. In this part, the author discuss theretroactive effect of this law. Otherwise, the author think the rule of the subject ofthis crime is not exact enough and makes some suggestions.