Study Of The Crime Of Trading On Non-public Information

After nearly three decades of development, China’s capital market has made considerable progress and then so many involved problems have been exposed.Order to efficiently punishment the increasingly rampant use of nonpublic information in fund industry with illegal action,"Criminal Law Amendment (NO.Seven)," added the crime of trading on nonpublic information. There are few cases in this regard appears with high momentum in related illegal trading practices. Obviously,this crime has not been play a role in fully legal and social effects. Through the relevant "Rat" incident review and reflection, analysis the difficult practical problems and applications in trading of nonpublic information and comparison with helpful foreign legal experience in this paper. Also, offing some reasonable and reliable legislative proposals on this crime in order to promote the development of the crime of trading on nonpublic information.In this paper, the text is divided into five parts. The first part is the introduction of the crime of trading on nonpublic information. The main part of the it is the legislative significance of this crime, including the use of non-public information for illegal trade practices harmful to society and the punitive penalties. The second part of is the legislative practice, compare with some meaningful oversea legislative practice to stress the one dimension legislative mode in domesitc legislative practice. And the next part of paper is the analysis of criminal law elements,with crime object, objective behavior, criminal subject and subjective intent. Based on proposing the defect of the crime, including location ambiguity and lack of permitted financial regulations, this paper gives reasonable suggestion of improvement. The last part of paper is some difficult issues in judicial determination, by focusing on the identification of nonpublic information and the difference between the inside information, the use of the crime of criminal evidence and unpublished information to determine relevance trading activities.