Insider trading refers to insider buying and selling securities or helping others according to inside information, which violates the securities market? Open, fair and just? Principle, seriously affect the function of the securities market. At the same time, insider trading makes the formation process of securities prices and indexes lose timeliness and objectivity. It makes the stock price and index become the result of speculation by a few people using inside information, rather than the result of comprehensive evaluation of the company's performance by the investing public, and finally makes the stock market lose its function of optimizing resource allocation and acting as a barometer of the national economy. Insider trading will inevitably damage the order of the securities market. Therefore, the Securities Law expressly prohibits this kind of behavior.

How to punish insider trading? The penalties for insider trading in China law include:

1, administrative responsibility insider trading behavior may be given administrative punishment by the securities regulatory agency, mainly including:

(1) Order to dispose of illegally held securities according to law;

(2) Confiscation of illegal income;

(3) Impose a fine. Insider trading in securities, where the illegal income is more than 30,000 yuan, shall be fined more than/kloc-0 and less than 5 times of the illegal income; If there is no illegal income or the illegal income is less than 30 thousand yuan, a fine of not less than 30 thousand yuan but not more than 600 thousand yuan shall be imposed; Insider trading in futures, where the illegal income is more than 6,543,800 yuan, shall be fined more than 654.38+ 0 and less than 5 times of the illegal income; If there is no illegal income or the illegal income is less than 654.38+10,000 yuan, a fine of 654.38+10,000 yuan but less than 500,000 yuan will be imposed. If a unit conducts insider trading, the directly responsible person in charge and other directly responsible personnel shall be fined between 30,000 yuan and 300,000 yuan;

(4) warning. If a unit conducts insider trading, it shall give a warning to the directly responsible person in charge and other directly responsible personnel.

In addition to administrative punishment, insider trading actors may also be given administrative supervision measures by securities regulatory agencies to ban the securities market, and may even be banned from the market for life.

2. Criminal Responsibility If the circumstances of insider trading are serious and constitute a crime, criminal responsibility shall be investigated according to law.

One of the following circumstances constitutes the crime of insider trading:

(1) The turnover of securities trading is more than 500,000 yuan;

(2) The amount of margin occupied by futures trading is more than 300,000 yuan;

(3) The amount of profit and loss avoided is more than 6,543,800 yuan+500,000 yuan;

(4) Insider trading or disclosure of inside information for more than 3 times.

And in any of the following circumstances, the circumstances are particularly serious:

(1) The turnover of securities trading is more than 2.5 million yuan;

(2) The amount of margin occupied by futures trading is more than 6.5438+0.5 million yuan;

(three) to avoid the amount of profit and loss of more than 750 thousand yuan.

Whoever constitutes the crime of insider trading shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also or solely be fined 1-5 times the illegal income. If a unit commits a crime, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention. If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than 5 years/kloc-0 and not more than 0 years, and shall also be fined 5 times the illegal income1-.

3. If insider trading of civil liability causes losses to investors, it shall compensate investors for the economic losses caused thereby.