내부자거래규제에 관한 비교법적 고찰 = A Comparative Legal Study on Regulating Insider Trading

다국어 초록 (Multilingual Abstract)

Insider trading is prohibited in advanced many countries because it gives III effects to the stock market and gives damages to the public investors. Though Korean Securities Exchange Act has articles prohibiting insider trading, it is reported that those are ineffective. To improve the regulations in Korea I undertook a comparative legal study on the extent of the insider and non public information (insider information). Because most of regulatory schemes have been derived from the US, I mainly studied regulations in the US and added an interpretation of EU Directive cordinating regulation on insider trading.
Charpter 2 describes some problems on insider trading regulation in Korea. Charpter 3 describes the movement and the trend of legal theories and case law concerning insider trading prohibition in the US. In this charpter the attention focuses mainly on the US federal prohibition under the 1934 Secunties Exchange Act 10(b) and SEC Rule 10(b)-5. Charpter 4 describes the EU Directive. Charpter 5 compares and examines the differences of the schemes in US, EU and Korea. Finally charpter 6 offers some solutions to the problems in Korea.
The real meaning of the fact that the misappropriation theory was approved by the US Supreme Court in O'Hagan case is to expand the extent of the insider and non public information. And EU adopted the strict regulation against insider trading. I think it is time to keep up to the international standards in regulating insider trading in Korea.

목차 (Table of Contents)

• Ⅰ. 머리말
• Ⅱ. 우리나라 내부자거래규제의 문제점
• Ⅲ. 미국에서의 내부자거래규제
• Ⅳ. EU에서의 내부자거래규제
• Ⅴ. 문제점에 대한 각국제도의 비교검토
• Ⅵ. 우리나라제도의 개선방향
• 필자소개
• Abstract