禁止证券内幕交易法律制度的比较分析

Comparative Analysis on Legal System for Internal Stock Exchange

证券内幕交易是指知情人员利用所掌握的内部证券信息进行证券交易,或者将所掌握的内部信息提供给他人进行证券交易的行为。内幕交易是信息滥用的典型表现,它严重违背了证券交易中“公开、公平、公正”的原则,危害了证券市场的健康、顺利发展,损害了投资者的合法权益,因此,不论是大陆法系或是英美法系的绝大多数国家和地区,都将禁止内幕交易作为其证券立法的重要内容之一。

Inside stock exchange refers to the behavior that insiders make use of their mastered inside stock information or provide the information for others to exchange and make extortionate profit. Inside exchange is a typical appearance of information abuse, which severely violates the principles of ＇open, equal and just ＇ in stock exchange, does harm to the healthy and smooth development of stock market and legal interest of stockholders. Therefore, since the beginning of this century, great majority of countries, [xah in continental system and British and American system, view banning inside information as an important content in stock legislation. This paper is to make comparative analysis on inside exchange and legal rules.