| “8·16Everbright Oolong refers event” shocked the nation in August2013. ChinaSecurities Regulatory Commission made a decision on administrative punishment forEverbright Securities to define the Everbright Securities ETF selling and selling shortstock index futures contracts characterized as insider trading behavior on November15,2013. For the issue of compensation, the Commission spokesman has said thatEverbright Securities events lead to serious investor losses and investors can sue toclaim compensation. The Commission made a top grid Everbright Securitiesadministrative penalties, showing the determination of the Commission to crack downon insider trading. But the incident occurred more than a year, investors are mostconcerned about how to compensate the loss they have suffered because of insiderdealing.In about20years, in accordance with the "Regulations first" thinking Chinaconstructed market in the high-speed development. The market has remained stableand healthy development. However, innovation and technology bring insider tradingillegal covert means more complex. Conscious person against insider tradinginvestigation also grows. Insider trading began to cluster, cross-border technology,hidden name of evolution, and civil compensation system for insider trading, butcannot protect the interests of investors well. In order to protect the legitimate rightsand interests of investors better, maintain the order of the capital market, andmaintain the stock market promoting stable and healthy, this article discussed forinsider trading civil compensation system from three parts.The first part introduces the current situation of legislation and the judicialactuality of the insider trading civil compensation. Although the obstacles of theprosecution have been ruled out on the legislation level, the provisions are justprinciple. The lack of operability makes it very hard for many small andmedium-sized investors of our country to get compensation of the insider trading bya private aid force. On the judicial level, there are few cases of the compensation ofthe insider trading. Moreover, there is on successful case. This kind of situation of legislation and judicial reflect many problems of our system.The second part illustrates the necessity of perfecting the insider trading civilcompensation system. Firstly, it demonstrates the legal value of the insider tradingcivil compensation system. It analyzes through the legitimacy of the prohibition ofthe insider trading and the perniciousness of the insider trading and points out that theinsider trading has brought serious harm to our investors and affects China’seconomic development badly. So it is meaningful to perfect the insider trading civilcompensation system. And it is urgent. Secondly, it demonstrates the troubles anddisadvantages of our insider trading civil compensation system through the commonproblem of the insider trading civil compensation system and the special problem ourcountry is facing with.The third part of this article perfect insider trading civil compensation system ofour country. This part give advice from the request body of the insider trading civilcompensation system, how to confirm the amount of the compensation, the casualrelationship and the cancellation of the prepositional procedure. |
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