Amending China\u27s Insider Trading Prohibition - An Immodest Proposal

Presented in China in conjunction with the proposed amendment of the People\u27s Republic of China (PRC) Securities Law 2006, this paper critiques the form and application of the PRC\u27s current insider trading prohibition and its misconceived fealty to Rule 10b-5-limiting U.S. Supreme Court-derived doctrines of fiduciary duty and misappropriation, and urges that China\u27s amended statute and enforcement system look to the broader doctrinal formulations employed in the United Kingdom and the European Union, ironically already used by China\u27s securities regulator pursuant to internal (and likely illegal) administrative guidance norms