According to the provisions of Article 74 of the Securities Law, insiders of insider information of securities trading include personnel of relevant companies, securities supervisors and other personnel specified by the securities regulatory authority of the State Council. China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) is the securities regulatory body in the State Council, which exercises the administrative functions of supervising and managing the national securities and futures market and maintaining the order of the securities and futures market according to law. The Securities Law gives China Securities Regulatory Commission the right to identify insider information and insiders. The notices of the Supreme People's Court, the Supreme People's Procuratorate, Ministry of Public Security and CSRC stipulate that whether illegal securities activities are suspected of committing crimes shall be determined by public security organs and judicial organs; If the public security organ or judicial organ considers it necessary for the relevant administrative organ to determine the nature, it shall issue a determination opinion. Therefore, the China Securities Regulatory Commission issued insider information and insider confirmation opinions within the statutory authority.