关键词: 内幕交易 , 证券法 , 信息不对称

Abstract: Insider trading undermines the fairness and integrity of the securities markets, which leads to dysfunction of securities markets However, regulating insider trading is difficult due to the unobservability of insider trading In this paper, we review the theories and regulations of insider trading From the perspectives of insiders, inside information, detection of insider trading, prevention of insider trading and insider trading legislation and remedy, we compare Chinas insider trading laws and regulations with those of US, Japan and European Union, and conclude several defects of insider trading regulations in China We provide several policy suggestions for the future reform

Key words: nsider trading , securities law , information asymmetry