A Comparative Study On The Manipulation Crime Of Securities And Futures Markets In China And In The United States

The problem of manipulating the securities and futures market is almost as old as the world's first securities market.Any intervention to stop market supply and demand is a type of manipulation.Market manipulation leads to investors' lack of confidence in the stock market,and it will impede the development of capital markets.According to investor information asymmetry and market asymmetry information,we can find researches on stock market manipulation and stock price,are the main reason of manipulating behavior of stock and futures market..Manipulating the stock futures market can prevent the funds from entering the securities and futures market,and will hurt the market confidence of the investors,as a result,it can cause market volatility and even unrest;therefore,recognizing the characteristics of criminal behavior in securities and futures market,its techniques and hazards.We need to analyze typical cases of China and America to understand the new market crimes of China and the United States in the new financial development period,and accordingly to take countermeasures.It is of great significance to maintain the order of the securities and futures market,stabilize the investor's confidence,and the development of the financial industry.So far,on a global scale,America's securities and futures markets are the most developed securities and futures markets in the world;accordingly,on the legal system of securities,the United States is also the country with the best securities and futures market manipulation technique.By the securities and exchange act of 1934,the securities and futures market crimes were clearly defined.In China,by "criminal law amendment(6)" article 182,the "securities law" article 71 and article 184,article 62 of the " Provisional regulations for the administration of futures trading" and the relevant judicial interpretations,manipulation behaviors of the securities and futures market crime have been accounted.Through analyzing the manipulation behaviors of American securities and futures market,the manipulation behaviors of American securities and futures market can be the reference for the manipulation behaviors of Chinese securities and futures market.In this paper,by taking a global perspective,the manipulation crimes of the securities and futures markets in China and in the United States have been analyzed comparatively;and in the new financial environment,new types of manipulation behaviors have also been summarized;in view of the fact that emerging financial technology,electronic communication and information system are used to manipulate the situation of the financial markets,countermeasures have been constructively put forward,and this paper suggests that policymakers and investors should consider take feasible measures to better safeguard the integrity of the market...