A Research Of The Defining Standards Of Inside Information

“Guangda Oolong” event finally ended with the China Securities RegulatoryCommission identified as insider trading. But the storm caused by this incident hasnot subsided. The influence to the whole stock market, and even the financial industryhas caused quite a stir.The influence of the incident to which has raises peopleattention not only in the economic field, but also the legal field. Inside tradingbehavior is born in the stock market, and it do harm to the healthy and harmonioustrading environment as well as the fair and justice rules of the transaction. In the sametime, it affects investor confidence directly. No matter in the theoretical cycle or in thepractice, inside information, the core of the inside trading, is the key factor to confirminside trading. While the research of inside information is of great significance toclarify the scope of insider,the performance form of inside trading behavior and soon.To judge the trading behavior of market player as an inside trading should be strictand cautious, but at present the legal system of the the inside trading behavior is notperfect.In the academic world, there are many controversial views.This articleanalyses the four characteristics of the inside information and has a further approachto the significant and non-openness.Combining comparative study of the legal systemof our country and the foreign, analyzes the defects on defining inside informationand reconstruct the insider information institution.