Earticle

초록

영어

The ultimate aim of securities regulation is to promote full disclosure to investors. It means the markets are fully informed to the extent practicable and that securities prices reflect the mix of publicly available information. With full disclosure as the basic premise of the Financial Investment Services and Capital Markets Act, it has developed that investors should have equal access to information. Trading securities on the source of material information not disclosed publicly gives a trader an unfair advantage over other investors that runs counter to the premise of securities law.
Insider trading deprives investors of the oppurtunity to invest under fair competition that should exist in the securities markets because the informational advantage is based upon information that is not publicly available, someone has unbalanced superior information power.
This article tries to examine one important unresolved issue identifying the circumstances under which persons who are not traditional corporate insiders will be held accountable for what has become known as “outsider trading.”
Even though outsider trading can take a variety of forms, this paper focuses on either (1) when an investor acquires information from a company or from someone else with the expectation that the information will be kept confidential; or (2) when outsiders obtain the information through certain types of wrongful conduct, including theft or hacking.
And then, it suggests a German Securities Act type which regulates all trading under material nonpublic information.

목차

Ⅰ. 머리말
 Ⅱ. 자본시장법상 내부자거래규제 적용주체
  1. 서언
  2. 내부자
  3. 준내부자
  4. 정보수령자
 III. 외부자거래의 내부자거래규정 적용가능성
  1. 서언
  2. 부정유용이론과 Rule10b5-2
  3. Rule 10b5-2외의 외부자의 거래의 규제가능성
 Ⅳ. 외부자거래규제의 일방안 - 맺는말에 갈음하여
 [참고문헌]
 [Abstract]

키워드

저자

• 박선종 [ Park, Sun Jong | 전북대학교 법과대학 겸임조교수, 법학박사 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  동북아법연구 [Northeast Asian law journal]

• 간기

  연3회

• pISSN

  1976-5037

• 수록기간

  2007~2026

• 등재여부

  KCI 등재

• 십진분류

  KDC 369 DDC 341