The Comparative Study Of The Crime Of Insider Trading Between Mainland China And Taiwan

Insider trading is the Insider and access to inside information of others through improper means illegal laws,provisions of the law,disclosing inside information,based on inside information to purchaseorsell securities or trading securities recommendations to the others.Insider trading on the stock market is an act of seriously harms public interests,it not only destroy order in the market of fairtrade,undermine the efficiency of securities markets,increase the cost of operation.And investors information,endanger the safety of the securities market and,in extreme cases,can lead to market collapse.Based on the objectives of protection of investors ' interests and maintain order in the market value,States through different forms of legislation against insider trading.However,insider trading is not prohibited in the securities markets at the outset.Inthe initial stage of development of the securities market,it is generally accepted that in collecting the relevant information as much as possible before the Securities and Exchange is a savvy stock investors one of the essential qualities.Investors through before others know more advantages and profits in the stock market.Early American legislators and justice are trading securities are both entitled to usethe methods they consider appropriate to get market information and use it to generate a profit.The practice of using insider information to profit widely.However,with the development of the securities market,insider trading is like a cancer continue to erode the market's stability and harmony,States have enacted laws prohibitinginsider trading.Sail of the securities market in mainland China in the last century 90 's,although a late start compared to other countries and regions,but the momentum of rapid development.In the past 30 years,mainland areas for regulation of insider trading is a process ofgradual improvement,from the beginning only administrative sanctions and civil penalties to formally established by the Penal Code of 1997 crime of insider trading,to fill the gaps in the criminal law in this regard.After that,the legislature amendedthe criminal law process and the legislative perfection of the crime.However,due to many problems in the crime of insider trading theory view not unanimous,leading to the difference in practice,so although the Mainland for continuous improvement in the legal regulation of insider trading,but the punishment of the crime of insider trading in the judicial practice of efficiency at relatively low levels for a longtime.Therefore,clearly related to controversial issues and provide clear theoretical guidance for practice,theoretical study on the crime of insider trading in the Mainland's top priority.Taiwan area and its stock market was established in the early 50 's,securities legislation in 1954 's the management of Taiwan securities firms as a starting point,it hasbeen more than 60 years of history.Establishing modern system of securities markets in Taiwan's securities laws--the Securities and exchange law that it has been more than 40 years.On the whole,China's mainland securities legislation in Taiwan has a long history,this system has also been improved.And in recent years several major modificationsof the Securities Exchange Act,related issues have been clarified,judicial practice based on the appearance of conviction,which mainland China for this offence difficult judicial situation is undoubtedly of great significance.In addition to the introduction and the conclusion,is divided into four chapters,different aspects from the comparative analysis of legislation of the crime of insider trading between the two sides,analyzing defects of the Mainland for insider trading-related legislation and legislation of Taiwan can learn from them,and Mainland-related legislation to make suggestions for improvement.Paper first chapter for on both sides of regulation insider trading crime legal system history evolution and the compared analysis,second chapter respectively from on both sides of insider trading crime of subject,and objective elements,and subjective aspects for compared analysis,summary on both sides of legislation in the aspects of pros and cons where,and proposed for City area legislation of corresponding improved views,to City area for insider trading crime of regulation more perfect,achieved theory research and judicial practice of coordination unified.