Legal analysis: Employees of financial institutions such as stock exchanges, futures exchanges, securities companies, futures brokerage companies, fund management companies, commercial banks, insurance companies, and staff of relevant regulatory departments or trade associations use other undisclosed information other than inside information obtained by taking advantage of their positions to engage in securities and futures trading activities related to this information in violation of regulations, or express or imply that others engage in related trading activities, and the circumstances are serious.

Legal basis: Article 18 of the Criminal Law of the People's Republic of China, a person who knows or illegally obtains the inside information of securities and futures trading buys or sells the securities, or engages in futures trading related to the inside information, or discloses the information before the issuance of securities, securities and futures trading or other information that has a significant impact on the price of securities and futures trading is made public. Or express or imply that others are engaged in the above-mentioned trading activities, if the circumstances are serious, they shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also, or shall only, be fined not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall be fined not less than one time but not more than five times the illegal income.

if a unit commits the crime mentioned in the preceding paragraph, 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.

the scope of inside information and insiders shall be determined in accordance with the provisions of laws and administrative regulations.

employees of financial institutions such as stock exchanges, futures exchanges, securities companies, futures brokerage companies, fund management companies, commercial banks, insurance companies, and staff of relevant regulatory departments or trade associations who use other undisclosed information other than insider information obtained by taking advantage of their positions to engage in securities and futures trading activities related to this information in violation of regulations, or express or imply that others engage in related trading activities, if the circumstances are serious, they shall be punished in accordance with the provisions of the first paragraph.