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國立中正大學法學集刊 TSSCI
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| 篇名 | 歐盟、德國內線交易法制發展--兼論臺灣之內線交易規範 |
|---|---|
| 卷期 | 32 |
| 並列篇名 | A Study on the Development of the German and European Insider Trading Regulation--And Some Observations on the Regulation of Taiwan |
| 作者 | 陳彥良 |
| 頁次 | 089-142 |
| 關鍵字 | 內線交易 、 歐盟市場濫用指令 、 德國證交法 、 內部人 、 內線消息 、 Insider trading 、 The market abuse directive 、 Insider 、 German securities trading act 、 Insider information 、 TSSCI |
| 出刊日期 | 201101 |
中文摘要
本文首先介紹歐盟相關重要指令，對於內線交易而言歐盟要求禁止規範，從實質的法規範出發，在事前的防範機制的建立、各會員國主觀機關的規範及相關指引規範，嘗試指出其特殊性，與要求各會員國之一致性。又針對德國證券交易的法制，於1994 年前未存有統一法規，過渡到1994 年後證券交易法的制訂，針對內線交易之規範適用問題為探討，並為介紹德國針對內線交易之認定問題諸如內線消息、內部人認定及行為規範為詳細探討。再者反觀我國針對內線交易證券交易法對於歷年修法之重點及目標為檢視，並指出與歐盟及德國規範之不同處，藉以提出我國規範是否有所不足之考量，而對於爾後修法之建議。
英文摘要
Insider trading is the trading of a corporation’s stock or other securities by individuals with potential access to non-public information
about the company. Rules against insider trading on material nonpublic
information exist in most jurisdictions around the world, though the details and the efforts to enforce them vary considerably. The EU
viewed as having the strictest laws against illegal insider trading, and
makes the most serious efforts to enforce them.This Study first aims to introduce and analyze the Development of the German and European Insider trading Regulation and the “Markt Abuse Directive” for its original thought, principal goal and major content. Then this study will compare the German’s legal framework of the insider Trading law and Taiwan’s legal framework. In the end, this Study is going point out, that Taiwan should fine its right way of “the insider trading law” for its next
generation.