_老鼠仓_问题法律应对探析

:2009-01-15:蔡曦蕾(1984-),男,湖南益阳人,北京大学法学院2008级刑法专业博士研究生蔡曦蕾(北京大学法学院,北京100871):在狭义上界定老鼠仓的范围,将导致无法依据证券法!第43条及第199条的规定对其予以处罚,证监会对两起老鼠仓的处罚根据存在瑕疵刑法修正案(七)!将老鼠仓类犯罪与内幕交易罪加以区分是没有根据的,老鼠仓现象本来应属于内幕交易罪的范畴,因此,当下应对老鼠仓问题的最佳法律对策应为增设普通背信罪,以规制老鼠仓及类似违法现象在条件允许后,通过扩充证券法!中内幕信息的范围,最终将老鼠仓类犯罪纳入内幕交易罪中:老鼠仓;普通背信罪;内幕交易罪:D914∀∀:A∀∀:1673-1565(2009)02-0032-08∀∀:()!,()!,,,,,,,,(IknowitwhenIseeit),,:(),,,,,,,,,,,[1],,:,(),,,()[2],,:,;,,,,,,,,,,,,,!1852,,,,,:,,,,,322009年3月第2期总第104期JournalofShandongPoliceCollegeMar.,2009No.2∀Ser.No.104,,,,()!(),∀∀?2008[15]2008[6],2008[22]2008[9],#,:1.,,,2.:,,!43199,,!18971.!(),!43,,!43:,,,,,,!43,?!,?,,1998821!21:,,,,,,,!!?,()!,19:,16,:,,,,16,?:,,,,,,,,,[3],33:#,!,:!49,!,,,,!43,,!43,!111992.,,,[4],,!,,!,[5],,,,,!18,,!,,,,,,,,,∃%,,,!18,97?,,,,,,,,,(),,,,,,,,,,,,,,,,,,,34∀20092,,,,;,,,,,,,,,,∀∀,,&&&,,,,,()!,1.()!()!22::∃,,,,,,%,,,,,,()!,!,,,,,,10,,,,,[5],:∃%,∃%,,[7],,(),,?,,(),,,;,,,,,,2.,:,,()!,,,,,,,?!751:,,,,,,,!751?,282,,,,135:,,,,,,,,,,!,,,,,,;,,,,,:,,()!,180,,,!751,3.()()?():(1)!∃%&&&∃,,,%[8],20031282003/6/EC()!,1:∃%,,(2),,:,,16(b)[9],,,SECv.Macdonald,:(1);(2);(3)[10],,:,,,,,,[11],:;,,,,[12],(3)1993!56::(A),;(B);(C);(D),()(4)1993113,,:,,(5),36∀20092!:;;;,[13](6)!1571:,,(7),,199191()!3958:,∃%(relevantinformation),(),,[14](8)!1661:(1)(∃%),,(,),,∋∋,,2,,!():(1)(16621);(2)(16622);(3)(16623);(4)(16624),:,;,;,;,[15],,,,,,!,!,(),,,,,,,,:,,,,,,,(),!,,,6(),,,,,,#[16]4.:()!,,1814,4,,,,()[17],,,!,()!,()!1814(),37:#!,!,,,,,,,,,,,,,,,,!,,!,,,,!,!,199710,7,,,!(),?,!,!,,,,!,,,:,,,[18](),!217!342!266!158!153!247!353!336!224(13!355!314&1!165[19],,1997!,[20]1997!!,,,,:,,[21],1997!,,,,,[22],()!1814,,,,,,,,,,,,,,,!,!,,!,,,,,8,6,,,,!,,,!751:,,,,38∀20092[][1]金融业老鼠仓入罪的刑法坐标还待推敲[EB/OL].人民网:[2]老鼠仓:国企MBO的秘密[J].财富,2005,(9):1.[3]王连洲,董华春.证券投资基金法!条文释义与法理精析[M].北京:中国方正出版社,2004.108.[4][5]张路,罗旭.中美英基金法比较与实务[M].郭晓婧,编译.北京:法律出版社,2007.194.324.[6][7][17][22]老鼠仓犯罪关系密切人斡旋受贿罪的刑罚探讨[EB/OL].正义网:[8][13]王文华.欧洲金融犯罪比较研究&&&以欧盟英国和意大利为视角[M].北京:外语教学与研究出版社,2006.39.255.[9][美]托马斯(李(哈森.证券法[M].张学安,译.北京:中国政法大学出版社,2003.713.[10]杨亮.内幕交易论[M].北京:北京大学出版社,2001.219.[11]刘天利,霍芙蓉.中外证券市场内幕交易构成的比较法律研究[EB/OL].北大法律信息网:=36203,2008-12-04.[12]罗怡德.证券交易法&&&禁止内部人交易[M].台北:台湾黎明文化事业公司,1991.59-60.[14]香港证券(内幕交易)条例[EB/OL].香港律师网:=252,2007-09-12.[15]胡光志.论证券内幕信息的构成要素[J].云南大学学报法学版,2002,(4):41-42.[16][18]北京大学法学百科全书!编委会.北京大学法学百科全书(刑法学犯罪学监狱法学卷[M].北京:北京大学出版社,2003.33.33.[19]孙明先.背信罪的比较研究[J].同济大学学报,2004,(12):48-49.[20][21]张明楷.关于增设背信罪的探讨[J].中国法学,1997,(1):70.[∀]ProbingintotheLegalSolutionsofMouseStorehouseCAIXilei(LawSchoo,lPekingUniversity,100871,Beijing,China)Abstract:Ifwesetanarrowboundaryforthedefinitionofmousestorehouse,wecannotpunishitaccordingtoArticle43andArticle199ofSecuritiesLawofthePeoples'RepublicofChina.ThereareflawsinthepunishmenttotwocasesofmousestorehousebyChinaSecuritiesRegulatoryCommission.AmendmentVIItotheCriminalLawofthePeople'sRepublicofChinadistinguishescrimesofmousestorehousefromcrimesofinsidertrading,whichisgroundless,sincemousestorehousebelongstothecategoryofinsidertrading.Currently,thebestlegalsolutiontotheproblemsofmousestorehouseshouldbethelegislationofcrimesofcommonbreachoftrusttocontrolmousestorehouseandsimilarviolationoflaws.Whenconditionspermi,tthescopeofinsideinformationinSecuritiesLawshouldbeexpandedsoastoincorporatemousestorehouseintocrimesofinsidertrading.Keywords:mousestorehouse;crimesofcommonbreachoftrus;tcrimesofinsidertrading39: