On the Subjective Elements of Insider Trading

• Main Authors: Pei-Shen Chiu, 邱培慎
• Other Authors: Huang-Yu Wang
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/mxt2b8

碩士 === 國立臺灣大學 === 法律學研究所 === 105 === The legally protected interests of insider trading are depended on the variety of aspect, from legislative reasons of Securities Trading Law, we can know that our country has adopt market efficiency theory. Secondly, there are always disputes of Awareness Standard and Use Standard through the Supreme Court of the United States and court’s opinion of our country. Even though there are strong theoretical basis of the two standards, this article thought that from the direction of the offender of abstract danger, since our government policy often apply the offender of abstract danger to the situation of protected transpersonal legal interests, the order of securities trading market is also putted in the line of legal interest what the offender on abstract danger wants to protect. We have to probe what dangers will let the order of securities trading market to breakdown. This article concluded that only when defendant knows the information（inside information） which every person in the securities market did not possess, and use this inside information to gain the benefits. Therefore, it will produce the advantage situation of information, and the securities market will also face the danger of the breakdown, the insider trading is just want to prevent it from using these information to gain benefits.