内幕交易民事责任制度主体问题研究

所谓内幕交易民事责任,就是指内幕人因从事内幕交易活动所应承担的不利民事法律后果.内幕交易民事责任通过对内幕交易侵权人和受害人利益的合理再分配,达到保护受害人合法权益,维护证券市场公平交易的目的.受证券交易实践和司法审判条件的限制,长期以来我国对于内幕交易仅规定了行政责任和刑事责任,而并未规定民事责任,因此内幕交易受害人的合法民事权利,始终无法得到有效的保护.

Studies on the Subjects of Civil Liability of Inside Dealing

Civil liability of inside dealing indicates the adverse result burdened by the insider because of being engaged in an inside deal- ing.This liability system protects the victim's legitimate interests and maintains the square deal of the securities business through rea- sonable reassignment of the interests between the tort-feasor and the victim of the inside dealing.Limited to the practice of securities business and the circumstances of adjudication,for a long period there are only criminal and administrative but not civil liability concern- ing the inside dealing,therefore the victim's legitimate interests could not be effectively safeguarded all along.