Rearching Of Several Problems In Scalping

The Scalping researched in this article refers to a financial behavior, the behavior happens with the rapid development of recent securities market in our country, its content is that securities companies, advisory bodies and their practitioners first purchase a sort of bond, then recommend the stock to the market people and earn profit by selling the stock until the share price rises to a certain degree.Wang jianzhong Milking the Market Case is the first case which brought the Scalping into criminal area in our country’s judicial practice, and also is the second case after Stuttgart Scalping Case in the world which identified manipulating securities market behaviors as criminal. It is extremely controversial with regard to this case, whether Wang jianzhong’s scalping act belongs to the fallback provision in Criminal Law is endless debating in China. Through the study of the facts and law containing in Wang jianzhong’s scalping case, the author considers that the manipulative behaviors in Criminal Law are as the same character as the Scalping which pertains to the fallback provisions, in addition, Wang jianzhong’s behaviors conform to the constitution crime of manipulating securities and futures market.After researching the Wang jianzhong Milking the Market Case,the author analyses the main bodies of Scalping-like manipulative securities market crimes. In the author’s opinion, only securities companies, advisory bodies, professional intermediaries and their practitioners can constitute this kind of manipulating market crime under the existing legal system. As a kind of self-serving behavior of securities analysts, Scalping not only endangers the interests of securities investors but also harms the healthy development of the whole securities industry. Therefore, regulations of Scalping need to be strengthen and more measures are required including improvement of the structure of investors and varies of mechanisms of stock market, and also including modification of relevant legal systems.Besides the introduction, the main body in this text is divided into three parts, the specific contents of each part are as follows:The first part is mainly about the introduction of Wang jianzhong Milking the Market Case, consisting of the brief introduction of the case, analysis of the facts, debates and judgment in the court etc. The second part focuses on the analysis of law in Wang jianzhong Milking the Market Case, inquiring into the question of whether Wang jianzhong’s Scalping was equal to manipulating securities market crime by studying the application of the Fallback Provision and the homogeneity between Scalping and other manipulating behaviors. In the third part, the author analyses the subjects of Scalping-like manipulative securities market crime and the countermeasures dealing Scalping.