内幕交易罪研究

发布时间：2018-10-23 08:07

【摘要】：我国证券市场建立时间不长，发展速度却是相当惊人。在我国证券市场飞速发展的同时，也存在着“老鼠仓”、市场操纵等违法犯罪行为，其中危害最大的就是内幕交易罪。笔者以内幕交易罪作为本文的研究对象，分以下四个章节展开论述。第一章是内幕交易罪概述，，主要介绍内幕交易罪的概念和国外关于内幕交易犯罪的立法情况。首先叙述了内幕交易罪的概念以及罪名分析，由于我国《刑法》第180条将内幕交易行为与泄露内幕信息行为并列，规定了一个内幕交易、泄露内幕信息罪，所以理论界有学者提出应该定内幕交易罪这样一个单一罪名，或者内幕交易罪与泄露内幕信息罪两个独立的罪名，笔者认为较合适的做法是定一个内幕交易罪，对单纯泄露内幕信息情节严重的行为，交由《刑法》分则其他罪名来规制。随后介绍了规制内幕交易犯罪较有代表性的美国、日本以及欧盟的内幕交易立法情况并总结了它们各自的特点。第二章是本文的核心，主要讨论了内幕交易罪的构成要件。笔者认为内幕交易罪侵犯的客体是金融管理秩序中有关内幕信息的保密制度；并且内幕信息具有秘密性和重要性两大特征。内幕交易罪的客观方面，是本章的重点内容，刑法理论中有关内幕交易罪的争议性问题也主要集中于此。本文将重点讨论获知内幕信息人员明示、暗示他人进行内幕交易如何定性、利用内幕信息进行交易是否为构成内幕交易罪的必要条件、“不作为”行为能否构成内幕交易罪、“情节严重”如何认定等一系列问题。内幕交易罪的主观方面，笔者认为内幕交易罪的主观罪过形式是直接故意，并且牟取利益或者避免损失的犯罪目的不是构成内幕交易罪的必备要件。对于内幕交易罪的对象认识错误问题，即行为人在误把不属于内幕信息的普通消息当做内幕信息或者将内幕信息的重要信息误认为是普通信息而加以利用，可能是犯罪未遂或者不构成犯罪。第三章是讨论了内幕交易罪与利用未公开信息交易罪、诱骗投资者买卖证券罪、操纵证券市场罪的区别以及内幕交易罪的犯罪形态。内幕交易罪与上述犯罪在犯罪主体、行为方式、犯罪目的等方面存在诸多不同，实践中还是比较容易区分的。内幕交易罪虽然是情节犯，也存在犯罪预备、犯罪未遂、犯罪中止等犯罪未完成形态，并且司法实践中也有行为人为了实施内幕交易犯罪，其方法行为又触犯其他罪名的牵连犯问题。第四章是本文的最后一章，笔者对我国内幕交易罪立法中存在的问题提出了自己的完善建议。我国内幕交易罪立法中存在的问题主要有短线交易行为《刑法》未作规定、单位犯罪处罚较轻、刑罚设置不合理等；对此，笔者建议应增加对短线交易行为的刑法规制、加重单位犯罪法定刑、降低非法获取内幕信息人员的法定刑。
[Abstract]:China's securities market is not established for a long time, but the speed of development is quite amazing. With the rapid development of the securities market in China, there are some illegal and criminal acts such as "rat warehouse" and market manipulation, among which the crime of insider trading is the most harmful. The author takes the crime of insider trading as the object of this paper, divided into the following four chapters. The first chapter is an overview of the crime of insider trading, mainly introduces the concept of the crime of insider trading and foreign legislation on the crime of insider trading. First of all, it describes the concept of the crime of insider trading and the analysis of the charge. Because Article 180 of the Criminal Law of our country juxtaposed the act of insider trading and the act of divulging inside information, it provides a crime of insider trading and the crime of divulging inside information. Therefore, some scholars in the theoretical circle have proposed that the crime of insider trading should be established as a single charge, or that the crime of insider trading and the crime of divulging inside information should be independently charged. The author thinks that the more appropriate way is to establish a crime of insider trading. The act of merely divulging inside information with serious circumstances is subject to other charges of criminal law. Then it introduces the legislation of insider trading in the United States, Japan and the European Union, which is representative of the crime of insider trading, and summarizes their respective characteristics. The second chapter is the core of this paper, mainly discusses the elements of the crime of insider trading. The author thinks that the object of the crime of insider trading is the secrecy system of inside information in the financial management order, and the inside information has two characteristics: secrecy and importance. The objective aspect of the crime of insider trading is the main content of this chapter, and the controversial issue of the crime of insider trading in the theory of criminal law also focuses on it. This paper will focus on how to characterize insider trading, whether it is necessary for insider trading to be constituted by insider information, and whether "omission" is a crime of insider trading. "serious circumstances" how to identify a series of issues. In the subjective aspect of insider trading crime, the author thinks that the subjective crime form of insider trading crime is direct intent, and the purpose of making profits or avoiding loss is not the essential element of insider trading crime. The problem of understanding the object of the crime of insider trading is that the perpetrator makes use of the common information which is not inside information as inside information or the important information of inside information as ordinary information. It could be an attempted crime or not constitute a crime. The third chapter discusses the difference between the crime of insider trading and the crime of using unpublished information to trade, the crime of deceiving investors to buy and sell securities, the crime of manipulating the securities market and the criminal form of the crime of insider trading. There are many differences between the crime of insider trading and the crime mentioned above in the subject of crime, the way of behavior, the purpose of crime and so on, and it is easy to distinguish between the crime and the crime in practice. Although the crime of insider trading is a crime of circumstances, there are also forms of uncompleted crime, such as preparation for crime, attempted crime, termination of crime, and in judicial practice, there are also perpetrators in order to commit the crime of insider trading. Its method behavior also offends the question of other crime implicated crime. The fourth chapter is the last chapter of this paper, the author puts forward his own suggestions on the problems existing in the legislation of insider trading crime in our country. The main problems in the legislation of insider trading crime in our country are that the short term trading behavior is not stipulated in the Criminal Law, the punishment of unit crime is lighter, the penalty set is unreasonable, and so on, the author suggests that we should increase the criminal law regulation of short term trading behavior. Increase the statutory punishment of unit crime, reduce the illegal access to insider information personnel legal penalty.
【学位授予单位】：上海大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D924.33

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