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有关内幕人交易条款的出现可以追溯到30年代美国的证券法规。进入70年代以后,欧洲经济共同体各成员国先后将关于内幕人交易的条款写入有关法律之中,其目的是为了提高社会公众对证券市场的信心,使证券市场在金融活动中更有效地发挥作用。到1989年11月13日,欧共体部长理事会正式通过了关于协调各成员国禁止内幕人交易法规的欧共体法律准则,并于1992年7月1日前开始实施。近些年来,大多数发达国家都开始研究和制订反内幕人交易法,同时,一些在这方面已有十几年立法经验的国家也感到有必要再进一步研究和探讨,以便逐步完善对证券市场的管理制度。反内幕人交易法是证券法的重要组成部分之一,也是目前国内外法学界和金融界研究的新课题。我国已于1993年先后颁布了《股票发行与交易管理
The terms of insider trading can be traced back to U.S. securities laws of the 1930s. Since the 1970s, the member states of the European Economic Community successively wrote the articles on the insider trading into the relevant laws so as to raise the public’s confidence in the securities market and make the stock market play more effectively in the financial activities effect. By November 13, 1989, the Council of Ministers of the European Communities officially passed the EC’s legal norms on coordinating laws and regulations on the prohibition of insider trading in member states, and it will put into effect by July 1, 1992. In recent years, most developed countries have started to study and formulate anti-insider trading laws. At the same time, some countries that have more than a decade of legislative experience in this regard feel that it is necessary to further study and explore ways to gradually improve the securities market Management system. The anti-insider trading law is one of the important components of the securities law, and it is also a new topic for the study of law circles and the financial circles at home and abroad. China has promulgated the "stock issuance and transaction management in 1993