摘要
罚金刑对于治理特定犯罪具有重要的现实意义,利用未公开信息交易罪的现实争议是观察并反思罚金刑理念和规则的极好窗口。加强罚金刑的适用能力是利用未公开信息交易罪犯罪机理的内部需求和刑罚效用的外部要求,刑罚运用的有效性、针对性以及前置性规范关于经济制裁内容的调整决定了罚金刑扩张性适用的价值取向。利用未公开信息交易罪中市场信息属性和价值的特殊性、滥用市场信息并严重侵害投资者平等获取和使用信息的“罪质”特征以及对违法所得“罪量”属性的严格把握,共同确定了罚金刑扩张适用的内在依据和外在范围。罚金刑适用的方向和力度最终需要在具体的认定规则中加以实现,在扩张适用罚金刑的基本理念之下,需深入挖掘《刑法》第180条中罚金刑规定可能的适用空间,缺乏违法所得的犯罪行为也能科处罚金。违法所得的认定需要重视法益侵害相叠加的客观事实,否认亏损型交易行为的“正价值”,确定“过程性”违法所得的认定规则。立案前未抛售股票的情形和避免损失额的计算问题是认定违法所得过程中的特殊情况,需避免司法实践选择性忽视的做法,重视“评估法”的认定内容以及在具体情形中的运用。
The controversy over the crime of undisclosed information trading sheds light on the concept and rules of fine penalty.The effectiveness,pertinence and prepositional norms of the application of penalty determine the value orientation of the expansive application of fine penalty.Taking into account its quality of market information,infringement on the investors access to information and the profits made in undisclosed information trading cases,we can determine the basis and scope of the application.In practice,we need to take into consideration the possible cases that the penalty provisions in Article 180 of the Criminal Law relate to,i.e.,criminal acts that lack illegal gains can also be fined.Finally we discuss the various factors that should be considered when we determine illegal gains.
作者
孙万怀
江奥立
SUN Wan-huai;JIANG Ao-li
出处
《东南大学学报（哲学社会科学版）》
CSSCI
2020年第5期70-79,155,共11页
Journal of Southeast University(Philosophy and Social Science)
