The subject of this crime is a specific subject, that is, the person who knows inside information, that is, the insider. Insider refers to the insider who knows the inside information of securities and futures trading or the person who illegally obtains the inside information of securities and futures trading. According to the third paragraph of this article and the provisions of Article 68 of the Securities Law, insiders refer to those who have access to or obtain inside information because they hold the issuer's securities, or are directors, supervisors or senior managers of the issuer or a company closely related to the issuer, or because of their membership, management, supervision and professional status, or because they perform the duties of employees or professional consultants, including:

1. Directors, supervisors, managers, deputy managers and relevant senior managers of companies that issue stocks or corporate bonds;

2. Shareholders holding more than 5% of the company's shares;

3. Senior management personnel of the holding company of the issuing company;

4. Persons who can obtain the company's securities trading information because of their positions in the company;

5. Staff of securities regulatory agencies and other personnel who manage securities trading due to their statutory duties;

6. Relevant personnel of social intermediary institutions, securities registration and settlement institutions and securities trading service institutions who participate in securities trading due to their statutory duties;

7. Other personnel as stipulated by the the State Council Securities Regulatory Authority,

2. It constitutes the crime of insider trading. Meet the constitutive requirements of the crime of insider trading.