摘要
在新《证券法》规定的存托凭证扩大了证券的内涵后,《刑法修正案(十一)》也将存托凭证纳入到了刑法规制的范围,扩张了涉证券市场信息披露类犯罪的构成要件和刑罚。在存托凭证的法律关系中,投资者始终是信息的最后接受者,具有天然劣势。涉存托凭证信息披露类犯罪之主体所涵盖的范围仍有一定局限性,未能将存托人与托管人纳入其中。刑法条文对此类犯罪的构成要件规定方面采用了较多的概括性语言,比如“等发行文件”“依法应当披露的重要信息”等,需结合存托协议、托管协议等材料进行理解。涉存托凭证信息披露类犯罪涉及境内境外两个市场,易产生刑事管辖权冲突。对此,应完善相关前置法规定、遵循主场原则,以降低证券市场的刑事风险。
After the new Securities Law expanded the connotation and extension of securities with respect to depositary receipts,the Amendment(XI)to the Criminal Law also included depositary receipts in the scope of criminal law and expanded the subjects and statutory penalties for crimes related to depositary receipt information disclosure.This amendment ensures the timeliness and effectiveness of the criminal law regime for crimes related to the disclosure of depositary receipts,but there is still a strong ambiguity in the objective elements of this type of crime,and there is no judicial interpretation to clarify it,and the scope of the crime subjects covered by this type of crime is still limited.Since crimes involving depositary receipts involve both domestic and foreign markets,conflicts of criminal jurisdiction are likely to arise,and it is necessary to strengthen cross-border law enforcement cooperation and improve the relevant predicate law provisions to reduce criminal risks in the securities market.
出处
《青少年犯罪问题》
2022年第4期86-97,共12页
Issues on Juvenile Crimes and Delinquency
关键词
存托凭证
《刑法修正案(十一)》
欺诈发行
信息披露
Chinese depositary receipts
amendment to criminal law(Ⅺ)
fraudulent issuance
information disclosure
