A Study on Insider Trading Cases to Research What and How Company Shall Do to Avoid the Risk of Business
| Autor: | Hui-Ling Chu, 朱惠玲 |
|---|---|
| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 106 Insider trading has always been the most controversial case in the category of financial crimes. Moreover, since there are too many uncertain concepts in Securities and Exchange Act, the insider may not be convicted guilty even if they were indicted the prosecutor, which could cause insider to speculate and run the risk. Once the insider trading is discovered, the actors would inevitably be involved in time-consuming lawsuit and the enterprise would disgrace itself. For the purpose of preventing this and maintaining fair-trade in the stock exchange market, it is essential to discuss the insider trading. Chapter II and Chapter III are according to a study on the amendment history of insider trading terms and past cases, we can find that even in the same case, the judgment of each level court are quite different. Therefore, the judgment on insider trading cases has always been a major subject of academic criticism and teaching. Some scholars even bluntly stated that in Taiwan the biggest problem with insider trading cases is not whether the elements of crime are clear, nor whether the authority can institute explicit rules, but the lack of consistency in judicial decisions. As a result, it is claimed that the Supreme Court has a responsibility to make a common interpretation in order to prevent people from being treated unequally. Chapter IV, through the present situation and influence of cases, discusses the risk of running business and how to prevent insider trading, which is to improve the internal system of enterprise by revisiting internal control system and instituting compliance program. Thus focused on the strategy and response of enterprise, from the viewpoint of the five elements of internal control system and laws compliance, the thesis put up the way how to prevent the insider trading In conclusion, seeing that public trade company had been required to apply compliance program, while insider trading kept occurring, this thesis considers that because the promotion of compliance program lacks imperativeness and incentive, it is unlikely that the enterprises would voluntarily include it into their operating consideration. Accordingly, this thesis suggests that government follow the example of the U.S to provide incentive, urging the enterprises to institute an efficient compliance program, which can not only prevent the enterprises from crossing the line of insider trading due to ignorance, but also reach the goal of management, eventually reducing the operating risk of enterprises and improving the stock exchange market. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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