政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/127705
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113318/144297 (79%)
造訪人次 : 51047196      線上人數 : 910
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧：
  • 您可在西文檢索詞彙前後加上"雙引號"，以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋，建議至進階搜尋限定作者欄位，可獲得較完整資料
    •  進階搜尋
    政大機構典藏 > 法學院 > 法律學系 > 期刊論文 >  Item 140.119/127705


    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/127705


    題名: 論內線交易罪重大消息公開之時點認定問題
    Study on When Material Information Becomes Public in Insider Trading Cases
    作者: 周振鋒
    Chou, Cheng-Fong
    貢獻者: 法律系
    關鍵詞: 內線交易;重大消息;非公開消息;公開資訊觀測站
    insider trading;material information;non-public information;Market Observation Post System (MOPS)
    日期: 2018-07
    上傳時間: 2019-12-04 14:50:17 (UTC+8)
    摘要: 證券交易法明文禁止內線交易，內部人若知悉重大影響股票價格之消息（下稱重大消息），在消息未公開或公開後十八小時內買賣公司股票者，即構成內線交易。以時間序而言，重大消息成立後至公開後十八小時內，知悉消息之內部人不得合法買賣股票，但何時重大消息成立、何時公開，卻未有明文規定，僅能依個案事實綜合判斷之，而如此不免產生認定爭議。惟內線交易行為人需受嚴厲之刑事處罰，對於構成要件宜明確並足供行為人預測其行為結果，較為妥當，故對於重大消息成立與公開時點之判斷，實有必要建立較為具體的標準。而國內對於「重大消息成立」此問題已有相當多討論，但對「重大消息公開」之學術研究相對有限，故本文擬以後者為題，從近期司法實務對此議題之分歧意見出發，嘗試以美國法觀點對我國現行制度加以分析與檢討，並提出具體建議，以期能更完善我國內線交易之規範。
    Under the Securities and Exchange Act (the SEA), insiders knowing material non-public information relating to a particular stock should refrain from trading such stock unless they wait 18 hours after the information becomes public. However, the SEA does not have any definitions of public/non-public information and whether the material information at issue is public or non-public tends to be an open question in some cases. Insider trading is a felony that would severely punish violators and thus all the elements of the felony, including material non-public information, should be reasonably predictable, but the SEA fails to do so. It seems worse that courts so far have had different points of view in this regard. This article suggests that the SEA consider providing more clear criteria to determine when material non-public information becomes public. This article is expected to have a comparative law study with the U.S. and to offer a proposal to reform the existing regulations with respect to insider tr ading.
    關聯: 東吳法律學報, Vol.30, No.1, pp.89-119
    資料類型: article
    顯示於類別:[法律學系] 期刊論文

    文件中的檔案:

    檔案 描述 大小格式瀏覽次數
    index.html0KbHTML2496檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋