刘某等内幕交易案评析

发布时间：2018-06-12 04:16

本文选题：内幕交易罪 + 内幕信息　；参考：《湖南大学》2014年硕士论文

【摘要】：随着我国证券金融市场的发展,获取内幕信息的方式越来越隐蔽,进行内幕交易的主体也越来越广,内幕交易犯罪日益增多,引起了学界的广泛关注,内幕交易犯罪的认定也因此成为当前研究的热点。2009年江苏省发生的刘某内幕信息交易案就是因为其定性上的争议而引起社会关注的典型案例。刘某作为国家机关工作人员,以内幕交易罪被追究刑事责任,这在我国是首例。刘某等人内幕交易案涉及三个方面的争议问题：一是上市公司重大资产重组洽谈事件是否属于内幕信息；二是刘某作为国家机关工作人员参与重组洽谈是否属于内幕信息的知情人员；三是刘某与陈某的行为是否构成共同犯罪。通过对本案的分析,可以得出如下结论：首先,中国电子科技集团公司第十四研究所与高淳公司进行资产重组洽谈涉及高淳公司31.33%股权的变更,属于涉及公司股权结构的重大变化,对高淳公司股票价格会产生实质性的重大影响,属于内幕信息。其次,刘某作为国家机关工作人员参与整个洽谈过程,洽谈双方在洽谈中均告知了刘某洽谈的进程,刘某也多次向南京市政府汇报了洽谈的相关情况,因而刘某是因履行工作职责接触内幕信息而知晓内幕信息的知情人员。再次,刘某知悉内幕信息后,授意其妻子陈某利用二人家庭实际控制的几个股票账户和刘某向蒋某和薛某借来的巨资购买股票然后卖出,获取了巨额的非法利益。二者因为夫妻关系的特殊性使得其在利用内幕信息交易上形成了共同故意,并实施了内幕交易行为,应当认定为内幕交易罪的共同犯罪。
[Abstract]:With the development of China's securities financial market, the ways of obtaining insider information are becoming more and more hidden, the subject of insider trading is becoming more and more extensive, and the crime of insider trading is increasing day by day, which has aroused the widespread concern of the academic circles. Therefore, the identification of insider trading crime has become the focus of current research. The case of Liu Mou insider information trading occurred in Jiangsu Province in 2009 is a typical case of social concern because of its qualitative controversy. Liu, as a state official, is investigated for criminal responsibility for insider trading, which is the first case in China. There are three controversial issues involved in the insider trading case of Liu et al. One is whether the major asset reorganization negotiation event of listed company belongs to insider information; Second, Liu as a state organ staff to participate in restructuring negotiations whether the insider information of the informed personnel; third, Liu and Chen's behavior constitutes a joint crime. Through the analysis of the case, we can draw the following conclusions: first, the 14th Research Institute of China Electronic Science and Technology Group Company and Gaochun Company conducted asset restructuring negotiations involving the change of 31.33% equity rights of Gaochun Company. It belongs to the substantial influence on the stock price of Gaochun Company and belongs to the insider information. Secondly, Liu, as a staff member of state organs, participated in the whole negotiation process. Both sides of the negotiations informed Liu of the process of the talks. Liu also reported back to the Nanjing Municipal Government many times about the discussions. As a result, Liu is an informed person who knows insider information because he is performing his duties. Once again, Liu knows inside information, instructs his wife Chen to make use of several stock accounts actually controlled by the two-person family and Liu Mou to buy stocks from Jiang and Xue, and then sell them, making a huge amount of illegal profits. Because of the particularity of the relationship between husband and wife, they have formed the common intention in using insider information trading, and have carried out the behavior of insider trading, which should be regarded as the joint crime of insider trading crime.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D924.3

【参考文献】