It’s the fuctions of securities market belonging to virtual economy that have the unpalcebaleeffects on riching market products and services by market prosperity,constructing and meeting theneeds of different levels, releaseing the market main body energy and the market economic potential,or forming the modern market structure and specification by builting property transactions, capitalflow and information communication platform,which expanded the individual investment space andenterprise financing channels.Howerve, in the transformation period of chinese economy,there areunrestrain and unregulated gaps and uncosicious because of the lack of market mechanism, the lack ofsense of perception and position to securities market; It also restrains even stops the work of thenatural economy and enlarges the economic system defects and incompetent as for the imbalance ofpublic and private enterprise market position, the abnormal economic system and policies such asexpansion and excessive dependence of the administrative power.The insider trading in the merger,acquisition and reorganization of Listed company is the current situation of extreme performance.This paper, therefore, acquisition and reorganization of listed companies in the mess of insider trading,not only means to improve the current supervision system, that requires us to rethink the value ofratification market and individual demands, and in the reflection of the legal regulation onunderstanding the top design and target location, in order to find out the legal operation of the internallogic and reality. |