On The Perfecting Of The Civil Liability System Of Market Manipulation In Our Country

China’s securities market has developed for twenty years of wind and rain,the scale isexpanding constantly,and it has become the core area of our country’s financial system.Inrecent years,concept hype is frequent,the banker played the bully,false statement,insidertrading,market manipulation and other forms of securities fraud are more and moreserious,especially the market manipulation is more pervasive,the development ofsecurities market is facing huge challenges.However,our securities market is so not maturethat the provisions on market manipulation has not yet introduced.At present,theresponsibility system of market manipulation has administrative punishment and criminalpenalties,but the actual effect is not desirable,so the absence of civil liabilities is the majordefect of the regulation of market manipulation.Although new securities law makes up theblank of civil liability system of market manipulation,it did not make specific provisionson how to bear so that the feasibility in practice is extremely limited,how pity it is!So,howto perfect the civil liability system of market manipulation is essential,it is of greatsignificance to realize the standardization construction of Chinese securities market. Inthis situation, we must understand the legislation and the judicial situation of theregulation of market manipulation in China, on the basis of reference to the practice ofother countries or regions,we can build perfect market manipulation civil liabilitysystem,and promote the healthy development of securities market in our country.