内幕交易罪之规范理论的比较研究——以美、日与中国台湾地区为对象

由于内幕交易行为在外观上与一般的证券买卖交易并无不同,但刑法上却将内幕交易行为当作犯罪来处罚,所以对于其刑事规范理论的依据何在值得探讨。但是因为内幕交易具有内部性,对于内幕人员获知与利用内幕信息的内幕交易行为,在区别究竟属于合法的证券投资与违法的内幕交易时就产生了难点。因此有必要借鉴美、日与中国台湾地区等关于内幕交易罪的刑事规制经验,从立法与司法实践方面来探讨内幕交易罪的刑事规范理论基础,以澄清内幕人员与内幕信息的规制范围与犯罪构成特征。

Comparative Study on the Standardizing Theories of Insider Trading Crime——A Case Study of the United States, Japan and Taiwan Province

The insider trading seems like the general purchase or sale of any security,but penal code regards it as a crime.Hence it is necessary to probe into its criminal standard theories.However,the dealing occurs internally,and it is quite difficult to distinguish between legal security investment and illegal one,when personnel concerned acquire and make use of internal information.Standardizing penal experience concerning insider trading crimes should be gained by studying cases in the United States,Japan and Taiwan Province.The standardizing theoretical basis is probed from legislative and judiciary practice,so that the necessary acquisition of internal information can be distinguished from insider trading crime when personnel involved.