内幕交易犯罪情节认定疑难问题研究——“两高”最新证券期货犯罪司法解释相关条款刑法解析

Study on Difficulties about the Scenario Problem in the Crime of Insider Trading——the criminal law analysis about the recently judicial interpretation on the securities and futures market crimes

有必要优化内幕交易犯罪司法解释,通过对内幕交易行政处罚案件进行数据统计,分析此类非法证券期货交易中成交资金额、占用保证金数额、获利数额、避损数额等数据信息,将各个主要项目的数额平均值设定为犯罪情节严重的下限。司法解释理应将涉案内幕信息对资本市场的实际影响要素纳入情节严重的评价范围。有必要完善"获利或者避免损失数额"的判定规则,从正收益的角度计算犯罪数额。

It is necessary to improve the judicial interpretation about the crime of insider trading and use lower limit of the average amount of the main index, by means of calculating the administrative cases and analyzing the amount of securities and futures dealing, deposit, profits and losses to be avoided. The judicial interpretation should bring into the actural market influence factor of the insider information into the criminal law evaluation extension. It is indispensable todeepen the rule of illegal gains determination from the veiw of plus income.