On The Scope Of The Security Insiders

Started late,our securities market is immature and unsound.Insider trading allows insiders to respond to information which may influence the securities price precede other public investors.It undermines the interests of public investors,causes a crisis of confidence in the market and the withdrawal of the investor,ultimately affects the securities market's financing function.Thus it is of great necessity to improve the relevant legislation of insider trading.This paper starts from the research on the scope of insider information at home and abroad.The first chapter elaborates relevant theories of securities insiders.In the second chapter,economic analysis on the definition of the insider information is made.By means of cost profit method and game theory,the optimal law enforcement cost and the scope of insiders are discussed.The third chapter analyzes the imperfections of relevant laws and regulations in China by comparing with which in developed countries.Finally,based on the above analysis,this paper puts forward some suggestions on the scope of securities insiders,including a clear definition of insiders,the establishment of different legal regulations for different types of subjects,the establishment of insiders registration and reporting system,and other supplementary mechanisms.