The Comparative Study On The Insider Trading Between China And The United States

Because our country is in a critical period of economic transition,the capital market system is still in the process of constantly improve and perfect.Many violations that exist in the capital market investors and damage the normal order of market behavior.Insider trading,as a key to crack down on one of the behavior of law in our country,the capital market in our country has not been effective regulation.Therefore,to crack down on insider trading as the erosion of investors,it is very urgent to get in the way of market economic order "cancer".The United States of American securities law and its associated to crack down on insider trading system for the world's legislation and judicial produced huge influence.At the same time,to regulate insider trading behavior in our country,with very important reference value to crack down on the crime of insider trading.In this paper,on the research methodology,mainly by the comparative study of research methods.The author analyzes the similarities and differences between China and the United States of American in the regulation of insider trading crime and the advantages and disadvantages,and puts forward the perfection of their opinions.Based on the insider trading crime as the core,mainly in the following several aspects:The first part mainly introduces the insider trading crime legislation basis and legislation of China and the United States.Both the us and China's ban on insider trading behavior,but the theoretical circle should prohibit insider trading behavior from the Angle of the legislative level,there are still some controversy,mainly has certainly insider trading and against insider trading;On insider trading crime in China and the United States has taken a different legislative model,the author compares the advantages and disadvantages of the two studies,favours the accessory criminal law legislation mode.The second part mainly introduces the basic concept of the insider trading crime-securities,insider information,insider,the author advocates should draw lessons from American law,use of substance over form principle to define.The third part is mainly on insider trading crime infringe on a comparative study of law benefit.The author argues that this crime violations of law to comply with the requirements of the certain market transaction order is engaged in business activities of market order,market trading behavior norms and standards.The fourth part mainly compares the two countries about the use of information behavior,divulging inside information crime behavior,to reveal the behavior and behavior.The fifth part mainly introduced the convicted circumstances of China and the United States and penalty,the doctrine of pan-moral and penalty instrumental reflection is put forward.At the same time,the Angle of economics of law is used to punishment effect analysis,and puts forward his views on new sanctions pattern possibility.