International Securities Markets
International Securities Markets

Author: Hui Huang

Publisher: Kluwer Law International B.V.

Published: 2006-01-01

Total Pages: 382

ISBN-13: 9041125574

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This book offers the first detailed analysis of Chinaand’s insider trading law, explaining what constitutes insider trading in China and what the consequences of unlawful insider trading might be there. More importantly, it suggests ways in which the law might more effectively prevent the occurrence of insider trading in the first place. Among the elements of the legal framework addressed by the author are the following: and• Who benefits from insider trading and• The issue of when information becomes public and• A comparative law treatment of the underlying theories of insider trading liability and• Private civil liability and• Damage caps and• Measures of recovery The authorand’s approach focuses on Chinaand’s readiness to adopt foreign ideas without adequately assimilating them into the local context. In this connection, he sets out valuable reform proposals, using authority from field interviews with Chinese stakeholders as well as from comparative case law.

The Regulation of Insider Trading in China
The Regulation of Insider Trading in China

Author: (Robin) Hui Huang

Publisher:

Published: 2015

Total Pages: 0

ISBN-13:

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The purpose of this article is to critically examine China's insider trading regulation, and based upon the results of such examination, set out reform proposals for China. With the benefit of overseas experience, in a relatively short period of time, China has made a remarkable achievement in setting up its insider trading regulatory regime. There are, however, some serious problems with the Chinese law, due to the uncritical implantation of the ideas from foreign sources. This is strikingly illustrated by the loopholes in the definition of insiders which are inherently related to the confusion around the underlying theory of insider trading liability. The article first broadly describes the background of the regulation of insider trading in China, and then offers a detailed discussion of its content. Based on this, a critique of China's insider trading regulation is carried out. It appears that China has hastily imported two conflicting insider trading theories, namely the equality of access theory and the fiduciary-duty-based theories which include the classical theory and the misappropriation theory. A careful analysis suggests that the equality of access theory is preferable to the fiduciary-duty-based theories, especially in the context of China. It is further submitted that the Australian "information connection" only approach to the definition of insiders is both theoretically justifiable and practically manageable, and thus should be introduced to reform China's insider trading regulation.

The Regulation of Insider Trading in China
The Regulation of Insider Trading in China

Author: (Robin) Hui Huang

Publisher:

Published: 2015

Total Pages: 24

ISBN-13:

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This is a book chapter in Stephen M. Bainbridge (ed), 'Research Handbook on Insider Trading' (Edward Elgar Publishing Ltd, 2013). It provides an up-to-date discussion of Chinese insider trading regulation, covering the recently issued 2012 judicial interpretation on the handling of criminal insider trading cases in China. It examines not only the law in books, but also the enforcement of the law, including public enforcement and private enforcement.

A Comparative Study of Insider Trading Regulation Enforcement In the U.S. and China
A Comparative Study of Insider Trading Regulation Enforcement In the U.S. and China

Author: Han Shen

Publisher:

Published: 2010

Total Pages: 0

ISBN-13:

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It is generally thought that protecting investors from act of expropriations by management, either in the form of looting or unfair self-dealing, or in the form of exploitation of management's inside information in trading securities, is a precondition to the optimal development of public securities markets. The regulation of insider trading, while controversial, is thus a subject of public imperatives. Following the regulation of insider trading in the U.S., the notion of insider trading has been widely introduced to many other jurisdictions, including China. Certainly, the mere existence of insider trading regulation is not sufficient to assure optimal securities market development; enforcement of insider trading regulation is the key. Recent scholarship concludes that the enforcement of insider trading laws has a strong impact on the cost of capital, whereas passing insider trading laws without enforcing them does not have this effect. This paper will principally address the issue of enforcement of insider trading regulation in the People's Republic of China. In doing so, the author frequently refers to the U.S. experience for two reasons: firstly, the U.S. was the first jurisdiction to enact insider trading regulation and today the U.S. continues to lead the world in the regulation and enforcement. The U.S. experience has been largely viewed as the "gold standard" for many emerging markets. Secondly, the U.S. insider trading regulation has served as a core influence on China's regulatory framework. When the stock markets were established in China in the early 1990s, the regulation primarily imitated the U.S. experience. Rather than developing a costly new regime, China may study how to enhance effective enforcement of existing regulations and may enjoy the learning advantage by adopting the best practices from the U.S. to avoid major pitfalls.

Insider Trading in China
Insider Trading in China

Author: Greg Tzu Jan Yang

Publisher:

Published: 2012

Total Pages: 65

ISBN-13: 9781932330403

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China should be considered a late starter in terms of its insider trading regulatory framework. As the Chinese equity market becomes one of the major stock markets in the Asia Pacific region, Chinese legal authorities have started to become aware of the importance of an insider trading regulatory framework in order to facilitate its equity market into a healthy investment environment for investors around the world. This work analyzes the Chinese insider trading regulatory environment, specific cases of Chinese insider trading, and compares these to the insider trading regulatory environment and specific cases of insider trading in the United States.

Research Handbook on Insider Trading
Research Handbook on Insider Trading

Author: Stephen M. Bainbridge

Publisher: Edward Elgar Publishing

Published: 2013-01-01

Total Pages: 498

ISBN-13: 0857931857

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In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics. The Handbook begins with a section devoted to legal issues surrounding the USÕs ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union. This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading.

Insider Trading and the Regulation on China's Securities Market
Insider Trading and the Regulation on China's Securities Market

Author: (Robin) Hui Huang

Publisher:

Published: 2015

Total Pages: 25

ISBN-13:

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This article aims to provide an in-depth and updated analysis of insider trading regulation in China, looking at both “law in books” and “law in action.” Since the early 1990s, China has gradually set up a regulatory regime for insider trading in line with international experiences. Twenty years on, how effective has China's insider trading regulation been? How is it enforced? What are the recent developments and trends? This article critically examines the key elements of insider trading law as well as its theoretical basis in light of recent cases from a comparative perspective. It then conducts an empirical study of China's insider trading cases to provide insight into public and private enforcement of the law, and based on the findings, makes relevant suggestions to improve the efficacy of insider trading regulation in China.

The Regulation of Securities Markets in China
The Regulation of Securities Markets in China

Author: Weiping He

Publisher: Springer

Published: 2018-02-12

Total Pages: 295

ISBN-13: 1137567422

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This book offers an in-depth analysis of China’s contemporary securities markets regulatory system, with a focus on regulation in practice. Examining the roles of both the China Securities Regulatory Commission and local governments, He argues that the government has built and developed markets from scratch to address the needs of the state and the economy at large. This book describes the workings of national and sub-national securities markets, and such a comprehensive approach gives insight into the ability of state regulation to guide a financial system. This book also provides a unique practical perspective, explaining of the dynamics of regulation in relation to the operation of the Chinese political system. Finally, it incorporates original empirical studies, including semi-structured interviews of professionals and a survey of retail investors. This book is an unparalleled resource for anyone interested in the regulation of securities markets, as well as finance in China in general.