经济法视野下我国证券内幕交易法律问题研究

发布时间：2018-06-19 04:29

本文选题：证券市场 + 内幕交易　；参考：《北方工业大学》2013年硕士论文

【摘要】：证券市场是一个实现资本配置的市场,遵循着公正、公平和公开原则。呈多发态势的证券内幕交易行为背离了这一基本原则,也有悖于诚信,既损害了投资者的合法利益,也动摇了投资者对证券市场的信心。事后的行政、民事和刑事处罚虽然能起到一定的威慑作用,但由于内幕交易社会危害大、专业性强、查处难度大,因此对内幕交易加以规制,从而进行及时、有效的监管是各国法律制度的重要任务之一。本研究以科学发展观为基本指导思想,从经济法的视角切入,围绕我国证券内幕交易监管制度的发展与完善中的核心问题提出自己的见解。通过对证券内幕交易的要素、本质和危害进行分析和归纳,为证券内幕交易的法律规制提供较为坚实的理论基础；通过对世界各国证券内幕交易历史、现状、发展趋势以及我国证券内幕交易行为产生的具体社会环境和演化特征等的探讨,为证券内幕交易的有效防治提供合理建议；通过对我国规制证券内幕交易的立法现状及监管执法进行剖析和总结,为全面、系统完善我国内幕交易规制的法律体系,加强立法与执法的协调提出较为具体的实施细则和措施,以期推动我国证券市场规范、健全、和谐发展。本论文立足于经济全球化、会融全球化的大背景,在理论研究部分运用法律解释学的方法界定证券内幕交易的基本理论。通过国际比较与分析、与中国现状相结合的方法,将我国规制证券内幕交易的法律与证券市场相对发达、监管经验相对丰富的美国、德国、英国、日本和香港特区等国家和地区的相关法律相比较,提出完善中国证券内幕交易监管法律制度的若干建议。在分析中国现状部分,主要采用了社会调查与制度分析相结合的方法,集中以历史唯物主义的眼光,充分的分析了目前中国规制证券内幕交易法律制度与监管执法的发展阶段与情况,从而进一步提出了相关建议。正是通过这种纵向分析与横向比较,本文将主体分为五部分加以论证：引言部分介绍了各国对证券内幕交易进行规制的必要性,立足于我国证券市场频发的内幕交易行为,介绍内幕交易的性质和危害,为中心问题的讨论提供必要的背景资料,阐释了本文研究的内幕交易法律监管制度本身的内涵,界定了本文研究的重点和范围。第一章对证券内幕交易的基础理论进行研究。通过分析归纳及法律解释学的方法界定了证券内幕交易的概念、构成要素、法律性质及其危害,为后文提供理论基础。第二章对世界各国证券内幕交易的监管体系和法律制度进行了比较分析,主要选取了美国、德国、英国、日本等主要发达国家的典型监管体系以及相应制度作为比较对象,借鉴其中有益的理论和做法,结合我国实际情况,确定相应的制度模式。第三章着重分析我国规制证券内幕交易的立法体系存在的缺陷。这部分主要从法律、行政法规、司法解释、部门规章的层面探究我国现行立法的优势与不足,试图从中探寻完善证券内幕交易监管立法、进一步夯实证券市场和谐发展的法治基础。第四章主要研究了我国证券内幕交易监管执法存在的问题。这部分首先对我国证券内幕交易监管的现行制度进行重点分析,考察了现行监管体制存在的问题,然后运用具体的数据和实例,总结和分析我国近年来的证券内幕交易行为,剖析了我国在监管执法中存在的问题。第五章提出了我国证券内幕交易监管制度完善的建议。在前几章的基础上,为进一步完善我国证券内幕交易监管的法律制度和立法、执法的协调发展提出相关建议并加以论证。总之,“三公”原则是证券法律制定的基本原则,重视和完善我国证券内幕交易监管制度是市场经济条件下我国证券市场规范化的必由之路,对证券市场的规范是证券法律“三公”原则的必然要求。为此,明确证券内幕交易的构成要件及认定标准；强化证券内幕交易监管制度的可实现性,制定各项制度的实施规则,指标需要进一步量化；重视证券法上证券内幕交易法律责任制度,树立对证券内幕交易民事责任、行政责任与刑事责任予以同等关注的观念等都是我们必须重点认识和研究的。
[Abstract]:The securities market is a market for capital allocation, which follows the principles of fairness, fairness and openness. The securities insider trading behavior in multiple situations deviates from this basic principle and is contrary to honesty and credibility. It has both damaged the legitimate interests of investors and shaken the investor's confidence in the securities market. But it can play a deterrent effect, but because the insider trading society is very harmful, professional and difficult to deal with, it is one of the important tasks of the legal system of various countries to regulate the insider trading, so that timely and effective supervision is one of the important tasks of the legal system of various countries.
This study, taking Scientific Outlook on Development as the basic guiding ideology and from the perspective of economic law, puts forward its own views on the core issues in the development and improvement of the securities insider trading supervision system in China. Through the analysis and inclusion of the elements, the essence and the harm of the Securities Insider Trading, it provides the legal regulation for the insider trading of securities. The solid theoretical foundation; through the discussion of the history, current situation, development trend and the specific social environment and evolution characteristics of securities insider trading in the world, it provides a reasonable suggestion for the effective prevention and control of securities insider trading. In order to promote the standard, sound and harmonious development of China's securities market, the legal system of insider trading regulation and the coordination of legislation and law enforcement are put forward in order to improve the legal system of the regulation of insider trading in our country.
Based on the background of economic globalization and globalization, the basic theory of securities insider trading is defined by the method of legal hermeneutics in the theoretical research. Through international comparison and analysis and the method of combining with the current situation of China, the law of securities insider trading in China is relatively developed and the supervision experience is developed. Relatively rich countries and regions, such as the United States, Germany, Britain, Japan and the Hongkong Special Economic Zone, compared the relevant laws and other countries and regions, put forward some suggestions to improve the regulatory legal system of China's securities insider trading. In the analysis of the current situation in China, the main method is to combine social investigation and institutional analysis, focusing on historical materialism. This paper analyzes the development stages and situations of China's regulation of insider trading legal system and supervision law enforcement, and further puts forward relevant suggestions.
It is through this longitudinal analysis and horizontal comparison that this article divides the main body into five parts:
The introduction introduces the necessity of regulating the insider trading of securities, based on the frequent insider trading behavior in China's securities market, introduces the nature and harm of insider trading, provides the necessary background information for the discussion of the central issue, explains the connotation of the legal supervision system of the insider trading in this paper, and defines it. The focus and scope of the study.
The first chapter studies the basic theory of securities insider trading. Through the analysis and induction and the method of legal hermeneutics, it defines the concept, the elements, the legal nature and the harm of the securities insider trading, and provides the theoretical basis for the later text.
The second chapter makes a comparative analysis on the supervision system and legal system of the securities insider trading in the world. It mainly selects the typical regulatory system and the corresponding system of the major developed countries, such as the United States, Germany, the UK and Japan, as the comparison object, and draws on the useful theories and practices, and combines the actual situation of our country to determine the corresponding system. Pattern.
The third chapter focuses on the analysis of the shortcomings of the legislative system in China's regulation of securities insider trading. This part mainly explores the advantages and disadvantages of the current legislation in China from the aspects of law, administrative regulations, judicial interpretations, and departmental rules and regulations. It tries to explore and perfect the legislation of securities insider trading supervision and further tamp the law of the harmonious development of the securities market. The foundation of treatment.
The fourth chapter mainly studies the existing problems in the supervision and enforcement of securities insider trading in China. This part analyzes the current system of securities insider trading supervision in China, investigates the existing problems of the current regulatory system, and then uses specific data and examples to summarize and analyze the securities insider trading behavior in China in recent years. The existing problems in China's supervision and enforcement of law and law enforcement are analyzed.
The fifth chapter puts forward some suggestions on the perfection of China's securities insider trading supervision system. On the basis of the previous chapters, some suggestions are put forward to further improve the legal system and legislation of China's securities insider trading supervision and the coordinated development of law enforcement.
In a word, the principle of "three justice" is the basic principle of the securities law. It is the only way to standardize the securities market under the market economy, and the standard of the securities market is the inevitable requirement of the principle of the "three fairness" in the securities law. We should strengthen the realization of the regulatory system of securities insider trading, formulate rules for the implementation of various systems, and further quantify the indicators, attach importance to the legal responsibility system of securities insider trading, establish civil liability for securities insider trading, and pay equal attention to the administrative responsibility and the criminal responsibility. We must focus on understanding and research.
【学位授予单位】：北方工业大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.287

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