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Research On The Legal Supervision Of Securities,market Behavior Based On Investor Protection

Posted on:2019-05-12Degree:MasterType:Thesis
Country:ChinaCandidate:W T HeFull Text:PDF
GTID:2346330542986162Subject:Law
Abstract/Summary:PDF Full Text Request
With the May 2015 thousand shares falling off,thousands of shares suspended and the emergence of stock market meltdown in early 2016,management had to pay attention to the operation of the securities market.In 2016,the new CSRC chairman Shiyu Liu of the securities market with an iron hand means the scraping the bone healing poison reform,cancel circuit breakers,dredge the IPO quake lakes,a crackdown on securities crime,gradually will guide support the development of the real economy and virtual economy of China's securities market is experiencing an unprecedented change.However,strict laws and regulations can never deter profit-driven speculators.In the face of huge economic interests,there are still some people who will take risks,and the illegal behavior of manipulating the securities market is not uncommon.There are many cases of wang jianzhong's manipulation of securities market,and there is a case of xu xiang in private equity.The development of the securities market is changing rapidly and the ways of manipulation are endless and the methods are more subtle.Due to the phenomenon of market manipulation of medium and small investors have greater lethality,seriously distorted the stock price,cannot provide a reasonable basis for the government to implement effective control and the real indicators,cause will not be able to achieve efficient allocation of social resources,and even may lead to monetary market,capital market systemic risk,foreign exchange market and entity economy,the serious influence the normal operation of state machine,and eventually destroyed the country's political,economic,and social stability.On this basis,this article from the basic theory of stock manipulation and investor protection,through the manipulation of the securities market investors interests protection problems on the behavior of a concrete analysis,the act of manipulation of the securities market of China securities investor protection system construction of concrete proposals.China's manipulation of securities market behavior investor protection mechanism,the core should be implemented in the security of securities investors,forming four levels of safeguard mechanism.First,from the Angle of practice,securities against manipulation system of laws and regulations,through the successful experience of other country,gradually set up legislation forward-looking vision,real one to be able to keep pace with The Times,long-term use of securities law,and clearly put forward in the securities law general constitutive requirements of the securities market manipulation,so,even if some manipulation means not in stipulated in the relevant laws and regulations,law enforcers can still form a unified standard to manipulation,unapt let criminals on the loose.In the meantime,the relevant laws and regulations of the new securities law shall be issued as soon as possible to resolve the conflict between the provisions.We will increase the penalties and lower the threshold of the crime of "manipulating the market price of securities market" to raise the cost of crime.In the second place,from to safeguard investors' interests to strengthen the construction of securities regulation system,securities regulation clear objective,set up securities against illegal and criminal cases,and promote the healthy development of securities market,protect the interests of the masses of ordinary investors,the new regulation target,and further perfect the management system,the China securities regulatory commission need to strengthen the regulatory functions,not only to strengthen the regulatory functions of the securities market,also need to strengthen the regulatory functions of local securities regulators.At the same time improve the monitoring measures,strengthen the construction of information disclosure system,play a role of advance prevention,the introduction of a third party hearing system,introducing market-making system,etc.,improve the regulation ability of prevent manipulation of the securities market behavior;Third,set up the securities market intermediaries credit concept and bear responsibility consciousness,from set up the concept,professional training,establish archives,strengthen supervision and so on four aspects to help intermediary institutions and their employees to establish a set of systematic and comprehensive system of integrity.Intermediary agencies as a professional organization of capital markets,not only have for the listed enterprises solve the problem of professional and counseling listed work responsibility,also is listed on the control gate,as the buyer in the capital markets the excavation of the high quality enterprise gatekeeper,so,their professional behavior should be based on professional,honest,fair,effective play to securities market credit mechanism;Fourth,improve the system of securities investor protection,improve the system of civil compensation lawsuit of the manipulation of the securities market behavior,allowing investors to the door,claim a road,establish a dispute settlement mechanism of multi-channel,three-dimensional,relying on the administrative reconciliation and arbitration mediation way to improve the efficiency of investors' rights,for reducing the number of judicial resources,and strive to promote the construction of investor protection system,completes the top-level design,establish the investor protection institutions,to strengthen the publicity and education work of investors,to protect the securities investors interests.
Keywords/Search Tags:Securities crime, Stock manipulation, Investor protection, Safeguard mechanism
PDF Full Text Request
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