Research On The Supervision Of New Securities Market Manipulation

After the securities market established, there are a lot of manipulative actions of the market. When the dematerialized securities trading modes in stock markets gradually replacing traditional ones as the operating basis of stock markets all over the world, the behaviors of operating the stock market in traditional way become less and less. Instead of the tradional ways, the new behaviors of manipulating securities market such as fictitious transaction, bewitching transaction are progressively becoming the main gimmicks. Over the past several years, a series of serious cases on manipulating the stock markets have been revealed , such as the case that Zhou Jianming manipulated the markets by fictitious transaction, and the case committed by Wang Jianzhong, the so-called"stock big talker", manipulating the market by predicting the trends of stock market. These behaviors are increasingly sophisticated and the ways they are committed have been hidden more and more deep at the same time. Under the new background with the paperless trading operation platform, we can not deal with the whole problem only by the current legal system.In the first part, I introduce the history of the manipulative actions and talk about the impaction. In this second part, by taking the measures of case analysis, comparative analysis and logical analysis, I introduce the cases which made by Zhou Jianming and Wang Jianzhong. In the third part, from the analysis of these cases which have large impaction in our country, I try to find out the normal mode of the manipulative actions and the root of these behaviors. In the last part, I want to make it clear that how to manage the securities market and how to supervise the new type of manipulative action. And I try my best to give some advices to the legal department which can improve their lawmaking actions in the area of dematerialized securities.