【作者】 刘真；

【导师】 肖艳辉；

【作者基本信息】 湖南大学 ， 法律， 2014， 硕士

【摘要】 内幕交易是证券交易市场中的一种严重的违法行为，它对投资者的利益造成损害，同时还会破坏证券交易的市场秩序。我国业已颁布实施《证券法》（该法已于2005年修订）及其它有关法律法规，有力的规范我国证券市场，促进证券市场的健康有序的发展。但是由于存在立法以及司法上的一些缺陷，内幕交易违法行为需要承担的法律责任目前还主要是刑事及行政责任，民事责任追究制度虽已经建立，但仅是原则性规定，仍有待完善。内幕交易是掌握证券交易内幕信息的人员或者其他非法获得内幕信息的人员，为获得非法利益或减少损失，通过自己或建议他人的方式，以及故意泄露内幕信息，从事证券发行或进行非法交易的行为。从保护投资的利益的角度来看，内幕交易这种非法交易行为本身具有不同于一般证券行为的特殊性，内幕交易应承担民事责任的方式应为特殊侵权责任。同时应加大内幕交易的违法成本，杜绝或减少内幕交易的发生，应引入惩罚性赔偿制度。为惩罚内幕交易违法行为，应建立完善的民事赔偿责任追究制度，该机制应从内幕交易的违法性、损害事实、违法行为和损害事实的因果关系以及过错责任四个方面来对内幕交易的民事责任进行认定。针对目前我国内幕交易违法行为的规制以及民事责任承担的现实情况，笔者建议应参照国外有关制度建立我国内幕交易违法行为的规制理论，以此完善我国内幕交易民事责任制度，应适用过错推定原则、同时建议引入惩罚性赔偿制度以及建立集团诉讼等方式来完善内幕交易民事责任实现方式。更多还原

【Abstract】 Insider dealing is a serious illegal action. It not only impairs investors’ rights andinterests, but also disrupts securities market order severely. Securities Law of thePeople’s Republic of China plays a very important role in developing a healthysecurity market and safeguarding investor’s rights. Securities law only prescribes thecriminal liability and administrative liability for insider trading actions, but necessarycivil liability for insider trading is not laid down well. Such a liability system hassome defects, which should be perfected immediately.Based on the reason of protection of investors, this dissertation analyzes thejurisprudence of insider trading prohibition and principle of liability imposing in thelaw of US.Illegal insider trading refers generally to buying or selling a security, in breachof a fiduciary duty or other relationship of trust and confidence, while in possessionof material, nonpublic information about the security. Insider trading violations mayalso include "tipping" such information, securities trading by the person "tipped," andsecurities trading by those who misappropriate such information.In the case of insider trading, trespasser should take on the liability of civilcompensation.The assumed liability system shall be applicable to insider trading inline with the special tort theory.The key elements of the insider trading’s civil liability should be illegal action,the fact of damage, the causation and fault. The existence of default shall be inferredfrom the strict objective standard.更多还原