本文選題：證券欺詐 + 內(nèi)幕交易��； 參考：《西南政法大學(xué)》2012年碩士論文

【摘要】：一直以來，證券業(yè)被譽(yù)為是金融界的先鋒，是企業(yè)融資擴(kuò)大的重要渠道，也是投資者資本增值的重要來源，它引領(lǐng)全球經(jīng)濟(jì)向前發(fā)展，其作用自然是不言而喻。然而，近年來發(fā)生了一系列具有重要國際影響力的證券欺詐案件，特別是納斯達(dá)克交易所前主席麥道夫欺詐案被曝光以后，全球范圍內(nèi)掀起了對(duì)證券業(yè)監(jiān)管的質(zhì)疑與詰問。為了保護(hù)投資者利益，維持國際金融穩(wěn)定與繁榮，各國開始審視自身證券相關(guān)立法并開始尋求國際合作，以杜絕類似案件的發(fā)生。 本文的結(jié)構(gòu)一共有五個(gè)部分。首先，本文將對(duì)整個(gè)證券業(yè)與證券欺詐作出簡(jiǎn)要的介紹，然后以被譽(yù)為三大證券欺詐行為的內(nèi)幕交易、操縱市場(chǎng)和虛假陳述為論文的出發(fā)點(diǎn)進(jìn)行闡述，同時(shí)配合有關(guān)國內(nèi)外案例分析，以及各國相關(guān)的法律評(píng)析后，對(duì)我國證券欺詐行為的監(jiān)管提出完善建議。 第一部分，跨國證券欺詐的基本理論。本部分首先對(duì)證券、證券欺詐等相關(guān)概念作出介紹，然后討論了證券欺詐的特點(diǎn)及其產(chǎn)生的原因，引出后面關(guān)于三大證券欺詐行為的論述。 第二部分，內(nèi)幕交易及其防范。作為三大證券欺詐行為之首的內(nèi)幕交易，也作為曾經(jīng)華爾街的至理名言，在當(dāng)代，被卻視為經(jīng)濟(jì)犯罪行為。本部分從其簡(jiǎn)單的法理介紹開始，通過美國帆船對(duì)沖基金創(chuàng)始人拉賈拉特南和中國國美電器總裁黃光裕兩個(gè)案例的介紹與分析，透視內(nèi)幕交易在當(dāng)代證券業(yè)所造成的弊端，再通過比較分析美國與中國相關(guān)法律規(guī)定，建議通過引進(jìn)市場(chǎng)的做空機(jī)制來規(guī)制內(nèi)幕交易，通過達(dá)到行政監(jiān)管手段與市場(chǎng)調(diào)控手段的平衡與互相制約，從而防范內(nèi)幕交易的發(fā)生。 第三部分，操縱市場(chǎng)及其防范。作為經(jīng)濟(jì)犯罪的證券欺詐犯罪是優(yōu)勢(shì)犯罪，而操縱市場(chǎng)行為也是優(yōu)勢(shì)犯罪行為的典型代表。本部分也以法理分析為基礎(chǔ)展開論述，通過美國的兩次“墻角”案例以及發(fā)生在中國的中恒信一案，剖析操縱市場(chǎng)行為的不良后果。本部分通過中外法律對(duì)操縱市場(chǎng)規(guī)定的比較，，建議從舉證責(zé)任和賠償計(jì)算兩個(gè)方面改進(jìn)我國規(guī)制體系，同時(shí)希望各國加強(qiáng)合作，以達(dá)到合作共贏的效果。 第四部分，虛假陳述及其防范。作為證券交易的基礎(chǔ)原則之一即是誠信原則，這也是信息披露的基本要求，而虛假陳述顯然動(dòng)搖了證券交易的基礎(chǔ)，極大的危害社會(huì)的誠信與交易。本部分在作出與虛假陳述相關(guān)的信息披露制度介紹以后，通過對(duì)美國馬蒂爾虛假財(cái)務(wù)報(bào)告一案以及成都紅光公司上市欺詐案的說明與比較分析，探討中美兩國關(guān)于虛假陳述規(guī)制的異同，提出對(duì)我國民事訴訟中啟動(dòng)虛假陳述的前置程序進(jìn)行改進(jìn)，并通過集體訴訟的方式來達(dá)到規(guī)制的目的。 第五部分，結(jié)語。簡(jiǎn)要說明證券業(yè)在當(dāng)今金融環(huán)境中的重要性，并提出各國只有加強(qiáng)合作交流，共同監(jiān)管，才可以杜絕類似案件的發(fā)生。
[Abstract]:The securities industry has long been known as the pioneer of the financial sector, an important channel for the expansion of enterprise financing and an important source of capital appreciation for investors. It has led the global economy forward and its role is self-evident. However, in recent years, a series of securities fraud cases, especially the NASDA, which have important international influence, have taken place. In order to protect the interests of the investors and maintain the international financial stability and prosperity, all countries have begun to examine their own securities related legislation and begin to seek international cooperation in order to prevent the occurrence of similar cases in order to protect the interests of investors and maintain the prosperity of international finance.
The structure of this article has five parts altogether. First, this article will give a brief introduction to the whole securities industry and securities fraud, and then take the insider trading as the three major securities fraud, manipulate the market and false statements as the starting point of the paper, and cooperate with the relevant domestic and foreign case analysis, and the relevant legal comments of various countries. After analysis, we put forward some suggestions for the supervision of China's securities fraud.
The first part, the basic theory of transnational securities fraud. This part first introduces the concepts of securities, securities fraud and other related concepts, and then discusses the characteristics and causes of securities fraud, and leads to the discussion of the three major securities fraud.
The second part, insider trading and its prevention, as the first insider trading of the three major securities fraud, is also regarded as a famous Wall Street name. In the present time, it is regarded as an economic crime. This part begins with its simple legal introduction, through the American Sailing hedge fund founder rajaret South and the president Huang of China Gome electric appliance. The introduction and analysis of the two cases have been introduced and analyzed. Through the comparison and analysis of the relevant laws and regulations of the United States and China, it is suggested that the insider trading should be regulated through the introduction of the short mechanism of the market and the balance and mutual restriction of the means of administrative supervision and market regulation and control, so as to prevent the internal trade. The occurrence of a curtain deal.
The third part, manipulating the market and its prevention. As an economic crime, the securities fraud crime is the dominant crime, and the manipulation of the market behavior is also a typical representative of the dominant crime. This part is also based on the legal analysis, through the two "wall corner" case in the United States and the case of China's Chinese permanent letter, the analysis of the manipulation of the city. This part, through the comparison of the regulation of market manipulation by Chinese and foreign laws, proposes to improve the system of China's regulation from two aspects of the burden of proof and the calculation of compensation. At the same time, we hope that all countries should strengthen cooperation in order to achieve the effect of win-win cooperation.
The fourth part, false statement and its prevention. As one of the basic principles of securities trading, it is the principle of integrity, which is also the basic requirement of information disclosure, and false statements have obviously shaken the basis of the securities transaction, and greatly harm the integrity and transaction of the society. This part is after the introduction of information disclosure system related to false statements, Through the explanation and comparative analysis of the case of Martial's false financial report in the United States and the fraud case of Chengdu Hongguang company, this paper discusses the similarities and differences between China and the United States on the regulation of false statements, and proposes to improve the prepositional procedure of starting false statements in civil action in China, and to achieve the purpose of regulation through the way of collective action.
The fifth part, the conclusion, briefly explains the importance of the securities industry in the current financial environment, and puts forward that only by strengthening cooperation and exchange and joint supervision can the occurrence of similar cases be eliminated.
【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：D996.2

【參考文獻(xiàn)】

相關(guān)期刊論文 前9條

1 陳立;西方證券犯罪立法與實(shí)務(wù)及其借鑒意義[J];比較法研究;1994年Z1期

2 李燕;張衛(wèi)國;;論我國證券內(nèi)幕交易行為的有效防范[J];柴達(dá)木開發(fā)研究;2011年01期

3 張樹德;;從麥道夫案看對(duì)沖基金的監(jiān)管[J];財(cái)會(huì)月刊;2009年32期

4 李海霞;;證券市場(chǎng)操縱行為的民事賠償責(zé)任研究[J];當(dāng)代經(jīng)理人;2006年02期

5 何莉莉;;上市公司內(nèi)幕交易案件淺析[J];合作經(jīng)濟(jì)與科技;2011年04期

6 徐軒;;淺議證券市場(chǎng)操縱行為的民事責(zé)任制度[J];時(shí)代金融;2008年04期

7 李響玲;施建輝;;防控證券內(nèi)幕交易的難點(diǎn)及對(duì)策[J];中國金融;2011年03期

8 毛玲玲;;內(nèi)幕交易:罪與罰——中美比較借鑒之路[J];浙江經(jīng)濟(jì);2007年11期

9 王忠,吳朝陽;操縱證券市場(chǎng)若干問題研究[J];國家檢察官學(xué)院學(xué)報(bào);2002年04期

本文編號(hào)：2036486