论证券犯罪领域“行政性认定”的证据属性——以内幕交易刑事案件为例  

On the Evidentiary Attribute of“Administrative Determination”in the Field of Securities Crime:A Case Study of Insider Trading Criminal Cases

作　　者：方锁柱 林喜芬[1] Fang Suozhu;Lin Xifen

机构地区：[1]上海交通大学凯原法学院,上海200030

出　　处：《证券市场导报》2025年第3期24-33,57,共11页Securities Market Herald

摘　　要：“行政性认定”被常态化运用于内幕交易刑事案件中,但其作为刑事证据的正当性和合法性历来存有争议。正当性争议体现在,“行政性认定”的行业权威属性会对司法判断产生潜在影响,存在不当侵犯法官裁判权的风险。基于法官对证券期货行业认知的有限性以及证据法鼓励采纳证据的原理,允许“行政性认定”进入刑事司法是更为合理的做法。合法性难题表现为,“行政性认定”无法被解释为书证、鉴定意见或专门性报告。为消弭证据种类合法性争议,宜增设“行政性认定”证据种类并建构相应的审查判断规则。审查对象方面,可采取“区分论”的审查判断方式,只审查对专门性问题的意见,不审查非专门性问题的基础事实。证据能力方面,重点审查“行政性认定”主体的适格性、范围的适当性、形式要件、法律依据以及形成时间等。证明力方面,从“行政性认定”所依据证据材料的真实可靠程度以及“行政性认定”是否达到刑事证明标准两方面进行实质性审查。The“administrative determination”is routinely applied in insider trading criminal cases,but its legitimacy and legality as criminal evidence have always been controversial.The legitimacy controversy lies in the fact that the authoritative nature of“administrative determination”in the industry may exert potential influence on judicial decision-making,which poses a risk of improper infringement of judges’jurisdiction.Given the cognitive limitations of judges and the principle in evidence law favoring the admissibility of evidence,allowing“administrative determination”to be introduced into criminal justice is a relatively more reasonable approach.The legality issue lies in the fact that“administrative determination”cannot be classified as documentary evidence,expert opinions,or specialized reports.To address the legality dispute regarding the evidence category,it is necessary to establish“administrative determination”as a distinct category of evidence and to develop corresponding rules for its review and judgment.Regarding the object of review,a“differentiated approach”for review and judgment could be adopted,where only opinions concerning specialized issues are reviewed and foundational facts unrelated to specialized issues are excluded from the review.Regarding evidentiary admissibility,attention should be directed toward examining the qualifications of the entity issuing the“administrative determination,”the appropriateness of its scope,compliance with formal requirements,legal basis,and the timing of its formation.As for the probative value,substantive review should focus on the authenticity and reliability of the evidentiary materials underlying the“administrative determination”and whether the“administrative determination”meets the evidentiary standard required in criminal cases.

关 键 词：证券犯罪 行政性认定 内幕交易 专门性问题 证据种类 

分 类 号：D996.4[政治法律—经济法学]