The constituent elements of insider trading:

1. Object elements. The objects of infringement are the normal management order of securities and futures markets and the legitimate interests of securities and futures investors;

2. Objective requirements. Objectively, it manifests as the actor violating relevant laws and regulations and using insider information known to him to conduct transactions before the issuance of securities or other information that has an impact on securities is officially disclosed;

3. Subjective elements. In the subjective aspect, it can only be constituted by intention, including direct intention and indirect intention. Negligence does not constitute this crime;

4. Subject elements. The subject of this crime is a specific subject, a person who knows inside information, that is, an insider.

What behaviors does insider trading include?

Insider trading includes the following behaviors:

1. Insiders buy or sell the securities of the company they hold;

2. Other persons who illegally obtain inside information buy or sell the securities held by the company;

3. Persons with knowledge of the matter or other persons who illegally obtain inside information leak the information

4. The behavior of insiders or other persons who illegally obtain inside information recommending others to buy or sell securities.

Legal basis: Article 180 of the Criminal Law of the People's Republic of China and the People's Republic of China

Insider trading, leaking inside information, insider information of securities or futures trading, or Persons who illegally obtain inside information on securities or futures transactions buy or sell securities, or engage in activities related to the issuance of securities, securities or futures transactions, or other information that has a significant impact on securities or futures trading prices before it is made public. Anyone who engages in futures trading related to inside information, or leaks the information, or expressly or implies that others are engaged in the above-mentioned trading activities, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also or solely be fined not less than one time but not more than five times the illegal income; If the circumstances are particularly serious, the offender shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined not less than one time but not more than five times the illegal income.

If a unit commits the crime in the preceding paragraph, the unit shall be fined, and the person directly in charge and other directly responsible persons 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 laws and administrative regulations.

Using undisclosed information to trade is a crime for employees of stock exchanges, futures exchanges, securities companies, futures brokerage companies, fund management companies, commercial banks, insurance companies and other financial institutions, as well as relevant regulatory authorities or industry associations If a staff member uses undisclosed information other than inside information obtained for the convenience of his or her duties, violates regulations and engages in securities or futures trading activities related to the information, or expressly or implies that others engage in related trading activities, if the circumstances are serious, he or she shall be punished in accordance with The penalties specified in paragraph 1.