The Research Of The Late-model Manipulation Of Securities Market And Its Legal Regulation

This paper aims to study the late-model manipulation behaviors of the securities market and its legal regulation. First, by concluding the characteristics, typing and refining the various representation of the manipulation behavior, it comprehensively analyses the essence and concrete of market manipulation. From the legislation evolution, system, methods etc in the legal practices, we are facing many problems, such as the lack of clear constitutions, difficultly applying the out clause and no civil compensation for victims.Secondly, from the angle of jurisprudence, it deliberates its harmfulness and illegality, argues the rationality and legitimacy of legal regulation, and puts forward views that we carefully make it crime treatment.Again, a mature market economy has developed regions of the securities market, also have rich practical experience. The stones from other hills may lead to the jade. Comparatively studying on the US, Britain and Hong Kong as a representative of the market economy developed regions, there are the common basic experiences of the legal practice.Finally, on how to perfect the anti-manipulation system, it puts forward that legislature authorized the securities regulatory institution to cognizance market manipulation, the law enforcement formulated the anti-manipulation system, and judicial organizations implemented civil compensation system as soon as possible. It also offers some materials for researchers and policymakers.