The securities market is essentially an information market. In the era of big data，the securities information crime is particularly harmful. At present，there are many problems in the legislation of securities information crime in China：First，the securities information crime legislation lags behind，and can’t adapt to the rapid development of the securities market and the changing crime situation，so the ability of legislation to respond to the development of the securities market should be enhanced. Second，although Securities Law was amended on December28，2019，the relevant provisions of “Criminal Law” and “Securities Law” are not coordinated，so the legislative model combining criminal code and subsidiary criminal law should be adopted. Third，the criminal information crime system is unreasonable. The crime of fabricating and disseminating false information in securities trading should be abolished. The crime of manipulating the securities market should be regulated，the crime of non-public information trading should be abolished，and the relevant behavior should be included in the regulation of insider trading crimes. Fourth，the criminal punishment of securities information crimes is unreasonable，and the penalty system and the “prohibition of employment” system should be improved.