使用者工具

消息傳遞理論

(tipper-tippee theory)

或稱消息傳遞責任理論、消息傳遞責任。主要在探討內線交易管制:若知悉重大消息之內部人本身並不從事交易,將重大消息告知第三人,由該第三人交易,則該內部人(消息傳遞者,tipper)與實際從事交易之他人(消息受領者,tippee)間之法律責任。

美國聯邦最高法院認為僅內部人對公司及股東有獨立之忠實義務,而消息受領人並無,必須在內部人違反忠實義務而傳遞消息之情形下,消息受領人於知悉重大消息時,亦一併繼受內部人「公開消息否則戒絕交易」義務。

成立要件

  1. 消息傳遞者違背義務( The tipper has breached duty)
  2. 消息受領者知悉或可得知悉消息傳遞者違背其義務( The tippee knows or should have known that the tipper breached a duty)
  3. 消息傳遞者藉由傳遞消息行為,將可獲得直接或間接利益( The tipper will benefit, directly or indirectly, from his disclosure);或消息傳遞者將傳遞之消息視為禮物而告知親友(when an insider makes a gift of confidential information to a trading relatives or friend)

相關條目

This website uses cookies. By using the website, you agree with storing cookies on your computer. Also, you acknowledge that you have read and understand our Privacy Policy. If you do not agree, please leave the website.

More information