美国证券公司员工买卖证券的规制及启示

发布时间：2018-05-14 21:43

本文选题：经纪-交易商 + 员工私人证券买卖　；参考：《证券市场导报》2012年01期

【摘要】：在美国,证券经纪-交易商从业人员的私人证券交易受《证券交易法》和NASD Rule 3040的约束。法律未禁止证券公司从业人员买卖证券,但为防范利益冲突,证券公司员工应遵守开户申报、下单审批等程序性规定。对于容易接触重大非公开信息的投行人员及存在突出利益冲突的研究分析师,美国制定了专门的证券买卖规则。我国有必要借鉴美国的做法,对《证券法》第43条进行相应修改,并由证监会或证券业协会制定证券公司从业人员买卖证券的规则,对投行人员和分析师的证券买卖行为做出禁止、限制及披露方面的规定。
[Abstract]:In the United States, the private trading of securities broker-dealer practitioners is governed by the Securities Exchange Act and NASD Rule 3040. The law does not prohibit the employees of securities companies from buying and selling securities, but in order to prevent conflicts of interest, the employees of securities companies should abide by the procedural provisions such as filing accounts and issuing orders for approval. For investment bankers with easy access to material private information and research analysts with prominent conflicts of interest, the United States has established specific rules for securities trading. It is necessary for China to draw lessons from the practice of the United States and amend Article 43 of the Securities Law accordingly, and the Securities Regulatory Commission or the Securities Industry Association shall formulate rules for securities companies' practitioners to buy and sell securities. Ban, limit and disclose securities trading by investment bankers and analysts.
【作者单位】：东华大学人文学院;海通证券;
【分类号】：D971.2;DD912.28;F832.51

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