The Studies Of Manipulating Security Market And The Civil Responsibility

Manipulating security market is one of the cheating behaviors which frequently happen in the security market in China. It disorders the security market; hampers the realization of the functioning of capital modification; and promotes the speculation. Meanwhile, it violates the profit of other investors, and should make compensation on the victims. The first part of this paper draws a definition of security market manipulating. which is both theoretically and practically necessary. Meanwhile, it makes a comparison between security manipulating and other kind of cheatings in security market. Based upon a comprehensive analysis of he Security Law?and other regulations of security market in Hong Kong, Taiwan and other countries and regions, the paper classified security market manipulating into several kinds: Wash Sale, Matched Order, Manipulation By Actual Purchases, Rumor and Unfaithful Material Creation and Stabilization. And these are followed by the careful analysis of the constituents of manipulating behavior. The second part of the paper focuses on the civil responsibility of security market manipulation, which consists of four aspects: the law violation of behavior; the existence of destroying facts; the reason and result relation between law violation and destroying facts; and the responsibility of the damage maker. The focus is on the most complex problem of compensation calculation and the relation of law violation and destroying facts. The third part of the paper is about the imperfection and modification of civil responsibility legislation of security manipulation. The ecurity Law?in China has no clear regulations on the civil responsibility of security market manipulation, which is disadvantageous to the protection of the investors. As the second part of the paper has already indicates the obvious tendency, in this part, there are only simple elucidation of the perfection of the perfection of the security market.