Study On The Crime Of Trading On Undisclosed Information

In recent years, the amount of crime in financial field is increasing, and phenomenon of illegal transactions is more obvious especially in specific funds and other financial securities.These criminal activities that involved large sum of money in the economy cause great indignation of numerous share-holders and fund-buyers by infringing their rights and interests deeply. “Rat trading” is one special kind of crime involving illegal transaction, which has features of highly secretive, less visible, high-profitable and victim-uncertain. All that make many investors unable to seek effective remedy means in law.What’s more, it is a brand-new type of crime that the criminal legislation can not respond in a timely manner. Relying solely on business law and other laws and regulations is clearly not effective to punish these crimes, and its increasingly rampant has caused extensive concern of society from all walks of life. Ultimately, legislative body established the crime of illegal trading on undisclosed information(CITUI) in the “Criminal Law for Amendment(seven). However, there are many controversy and problems in its establishment and application, which mainly includes appropriate interpretation of constituents in theory and judicial application and legislative setup issues in practice. These issues related not only to proper application of this crime, but also to protection of investor’s property right. Therefore, author attempts to sort out these problems one by one, in expectation of finding out the optimal solutions in the process of analysis. It concludes four parts:The first part is the general introduction of CTUI. The thesis firstly talks about its legislation background,then points legal interest of CTUI and problems on its establishment and application.The second part is analyzing deeply about the problems on identifying relevant elements of CTUI. The writer firstly analyzes the problem on taking advantage of undisclosed information,then analyzes objective elements especially on dispute of different behavior and provides writer’scomprehension for occasions on “gravity of circumstances”,in order that we can get a thorough interpretation on the crime.The third part is the analysis of CTUI in judicial application,both in conviction and sentencing classes issues. Having a detailed analysis on these issues, do a great favor in combating the CTUI more efficiently.The forth part is the analysis of CTUI in legislation. To meet the needs of practice, the thesis gives us some specific suggestion to deficiencies pointed out before for the perfection of the legislation and provides control measures and strategies on the basis of CTUI study.