Legal Qualitative Research On Increasing Shares Of Listed Companies Illegally

In the current legislation and the practice of securities supervision in our country,increasing shares of listed companies illegally is generally regarded as "the act of not fulfilling the obligation to disclose information".Therefore,the consequences of the legal responsibility of the offenders are far behind the income they earn.This makes such actions continue to be banned in China’s securities market.This phenomenon not only undermines the openness and fairness of the securities trading market,but also triggers complex litigations by many large shareholders in terms of rights.This paper comprehensively analyzes domestic and foreign legislation,jurisprudence,and scholars’ research perspectives.And it attempts to identify violations of holdings as securities insider trading.First,the article discusses two legal theories and some basic legal principles.Second,it verified whether the acts of illegally increasing holdings are in line with the requirements of the laws and regulations of China’s securities insider trading.Among them,the paper specifically analyzes whether the information used in the illegal increase of holdings is significant or unpublished.In addition,this paper focuses on the similarities and differences between the inside information sensitive period and insider trading behavior time.In the end,the paper concludes the idea of judging which of the increased holdings are insider trading through the “retrospective method”.