日本规制证券犯罪的刑法理论探析

An Analysis of Criminal Jurisprudence over Securities Crime in Japan

由于刑法谦抑性原则的要求,刑事处罚乃是作为保护社会的最后手段,当民事赔偿与行政处罚等其他法律责任可以抑制扰乱证券市场秩序的行为时,则较为严厉的刑事制裁手段就无须动用。在证券市场交易中,维持市场交易秩序以及保护投资人权益都是证券交易发展上的重要工作。由于投资者属于不特定的多数人,因此日本在刑法上采用了危险犯的立法方式,提早保护投资人利益。

Adhering to the principle of restraint on criminal law, criminal punishment is the last resort to protect the society. Thus where civil damages and administrative penalties are sufficient to defeat the conduct of disturbing the stock market order, the criminal punishment is not necessary. In regard to transactions in securities market, it is of vital importance to maintain the transaction order and to protect investors. Considering the indefinite majority of investors, legislation on offense by dangerous methods are adopted in Japan for the purpose of protecting the investors in advance.