Study Of Crime Of Manipulating Securities And Futures Market

Securities and futures market as an important bridge for the allocation of resources has become an important industry in the national economy, and has made a significant contribution to promoting national economic growth. With the deepening of economic reform and the implementation of the Rule of Law, securities and futures market increasingly moves toward large-scale normalization, the system also gradually improves, but the market exists still unsatisfactory criminal acts which disrupt the normal market order and impair the lawful rights and interests of the investment.This paper elaborates problem of judicial practice on basis of legislation and constitution of crime.The first part is the overview of crime of manipulating of the securities and futures market. First , the paper describes the evolution of the crime: amended in 1997 the "PRC Criminal Law", the Chinese futures market on the criminal acts not yet clearly defined. December 25, 1999 the Ninth NPC Standing Committee 13th meeting, adopted the "amendment of the PRC Criminal Law," provides for manipulating of the securities and futures prices of the crime. The Tenth NPC Standing Committee adopted the twenty-second session, "Criminal Law Amendment (6)", crime of the manipulating of the securities and futures prices changes into crime of manipulating of the securities and futures market. Second, the concept of manipulating of the securities and futures markets and the constitutes of the crime. Manipulating of securities and futures markets in order to obtain the illegal profits or other purposes, alone or in collusion, concentrated capital as shares or positions, or the use of information superiority edge joint or continuous trading, manipulating of securities and futures or securities prices, trading volume ; or collude with others to advance the agreed time, price and method for securities and futures, affecting securities and futures prices or securities and futures trading volume; or actual control of their own securities transactions between accounts, or themselves as trading partners, since the purchase from the selling futures contracts, affecting the securities and futures prices or securities and futures trading volume; or otherwise manipulating the securities and futures markets, which seriously disrupts the securities and futures market order and the legitimate rights and interests of other investors behavior. The object, the objective aspect, subject and subjective aspect of crime of manipulating of the securities and futures markets. In the main, author think manipulating of securities and futures market usually requires a strong of financial resources, so elaborates crime of unit. About the subjective, author thinks the crime of intent, not only include the direct intention, but also indirect intention.The second part is the accomplishment of crime of manipulating of the securities and futures markets. First, the overview of manipulating securities and futures and optional criteria accomplishment: introducing several criteria to judgging of the accomplishment of crime of,including purpose criteria,result criteria, criteria of constitute of crime, and then carried out for these types of views analysis. Criteria of constitute of crime should be adopted in crime of manipulating of the securities and futures markets . Then, according to principle that subjective and objective elements of constitute of crime to judge the accomplishment of crime of manipulating of the securities and futures markets. Author believes that "serious cases"musit be considered when judging the accomplishment of crime of manipulating the securities and futures markets. Because the Criminal Code Amendment (6) clearly states that the "manipulating of the securities and futures markets, the circumstances are serious," To constitute a crime, that is, if manipulating securities and futures market behavior were minor, and does not constitute a crime.Therefore, the author also has a detailed analysis on "serious cases".The third part is the quantity of manipulating of the securities and futures markets. First of all, explaining the criteria for determining the quantity of crimes, foreign standards include standards of behavior , the legal interests standard , intention standard , causation standards and constitute of the elements standards. In our criminal theories, generally supports the standard that constitutes a crime. Crime is a crime that includes the main body, the subjective, the criminal object, objective aspect of crime, the four elements of unity, if a behavior has constituted a crime, then identified as a crime, if they possess a number of crime, then identified number of crimes. However, the crime constitutes standard has shortcomings: failure to clearly distinguish between the doctrine of judge and elements of judge,which brings a lot of trouble for practice; the doctrine did not specify the types of constitute of crimes as a determine standard. Second, it analyzes problem of several crimes and one crime about the manipulating of the securities and futures markets. Among them, one crime includes continuous crime and Implicated crime. Several crimes include some special status of criminal and crime of manipulating of securities and futures market. Moreover, in practice, there are many acts of illegal possession, first a subjective intention on the implementation of a separate robbery, snatch, theft, fraud and other crimes, then useing the funds illegally to trade on the futures market , which also constitutes several crimes, should be implemented graft.The fourth part is the study of one-sided accomplice of manipulating of the securities and futures markets. First of all, it describes the establishment of one-sided theory of an accomplice. I believe that one-sided accomplice can be established. One-sided accomplice as a special form of common joint crime, in addition to the general characteristics of the common joint crime, they must also have their peculiarities: the main elements include the perpetrator and helper ; in the subjective, one-sided accomplice with the unilateral nature of criminal intent, that is only helper who know, the perpetrator was not aware of; in an objective element, not only the perpetrator who have been successful implementation of additional actions, but also helper who have additional auxiliary power behavior on the occurrence of the same harmful results of a causal relationship. Second, to the securities and futures markets "to follower of the making of behavior" that can not constitute a unilateral act of the kind of complicity. The reason is: follower of the making of actors who can not clearly know the perpetrator; the subjective aspects of follower does not match with the one-sided accomplice.