Study Of The Crime Of Trading On Nonpublic Information

In the field of securities investment funds, undisclosed information is a key element for trading. Can say, who mastered the nonpublic information related to trade, who will be able to win in competition. In the securities investment fund market’s growing prosperity at the same time, the criminals are also fully realize the importance of undisclosed information, often implement nonpublic information related fund crime, the behavior not only infringe upon the lawful rights and interests of investors and the public ownership of the property and social public interests, and seriously interfere with the normal operation of the financial order, stimulate the social contradictions caused by a variety of social public security problem. With the development of the securities industry, the relevant laws and regulations more and more behind the development of the securities market. Among them, because of using unpublished trading behavior of legislative oversight, make the behavior punishment blind spot for a long time. "Criminal law amendment(7)", the first clear rules on the use of nonpublic information trading, fill in the blank in the field of criminal law convicted and punished for the behavior. But this crime is still exist many problems in the legislation and practice, it is with these it is getting more and more prominent problems, the author began the writing of this article.This paper is divided into three parts: the first part of the case review. This part of the selection "Li Xuli case" as the breakthrough point, after a review of the case, puts forward the focus of the case. The second part is about the legal issues to the case analysis. This part is mainly on the basis of the first part, for the case involved a few controversial focus one by one, the legal analysis, including the use of unpublished trading case "evidence of review and decided", "in violation of regulations", "sentencing range" legal analysis. The third part is triggered by the case of thinking. From the Angle of the theory of the act of using nonpublic information trading "evidence of review and decided", "in violation of regulations" and the use of nonpublic information trading paper discusses the problems of sentencing misconduct, and put forward my point of view, in order to solve the use of undisclosed information trading the conviction and sentencing questions help.