Judicial Cognizance Of Malicious Short

Doing short is one kind of trade system which corresponds to doing long in the mature securities market.As the deepen reform of the securities market in our country,it has launched short mechanisms such as securities lending,stock index futures.In this context,"malicious short" began to appear in the securities market.This trading behavior has serious influence on the irrational fall of the securities market and it will distort the market price,make shortage of liquidity.Eventually it will destroy the stability of financial markets and disturb the order of the securities and the transaction management.Since the "malicious short" leads to serious social harm which has been involved in the criminal offense of securities,it is necessary to effectively combat.But in the current theory,it lacks of specialized in-depth study about "malicious short".Although the "malicious short" presents multiple trend intensified,but in practice the judiciary into a hard punishment,conviction difficult predicament.So speed up the research of judicial cognizance about "malicious short" is an important subject for the healthy development of securities market.In this article,the author first takes "malicious short" as the starting point of the research and analyses the essence of the behavior and its social harmfulness.Secondly,from the point of view of criminal law theory,discusses the legal basis for "malicious short" convictions and several typical objective manifestations should be convicted of the crime of trying to solve the problem of "malicious short".Finally,from the perspective of judicial practice,through the analysis of "malicious short",discuss the conviction incriminate standard,the number of crimes,evidence and other issues identified,raise the judicial punishment suggestions,and strength the act in order to provide appropriate guidance and practical reference for the judicial authorities investigating "malicious short" case to improve our criminal law for the securities market order and protect the rights and interests of investors.