The Research On Crime Of Manipulating The Security Market

Compared with European and American countries mature markets,securities market in China is still at the early stage of development,due to incomplete laws and regulations,system,regulation and other reasons,all kinds of illegal phenomena emerge in endlessly,especially the harm to the development of securities market manipulation of the securities market behavior is very large,it is not enough to play the stock market value of the financing function,small and medium-sized investors protection mechanism is not sound.China's 97 criminal law for the first time stipulated the crime of manipulating securities market as a crime and set corresponding legal penalties.However,compared with the frequent occurrence of stock market manipulation in the past two decades,it can be seen that the criminal penalties in the judicial field are very few.Scholars divided criminal ACTS in the criminal law into administrative crimes and criminal crimes.Serious manipulation of the securities market not only violates the criminal law but also violates the administrative law.The crime of manipulating the securities market is an administrative crime.At present,the problems in the connection between administrative law enforcement and criminal justice are mainly embodied as follows.Part of the transfer procedure does not meet the regulatory requirements;Cases are difficult to move and cannot be dealt with in time after transfer.The reasons for these problems are not only legislative reasons,but also law enforcement and judicial concepts,as well as institutional and institutional defects.This paper expounds the problems behind these phenomena from three aspects.First,from the perspective of the distinction between administrative and criminal crimes and the concept of criminal justice,the criminalization of securities manipulation should be strengthened and the tendency of gentrification should be reduced to reflect the certainty and severity of the criminal law.The second is to analyze and interpret the criminal constitution of securities market crime.The accurate grasp of criminal constitution is the basis of correct conviction and sentencing in judicial practice.The focus of this part lies in the judgment of the subject,subjective aspect,objective behavior mode and "serious circumstances" of the crime of manipulating securities market.Thirdly,some Suggestions are made on the mechanism of the linking procedure between the two methods.At present,in the process of securities law enforcement,administrative law enforcement and criminal justice are easy to form their closed systems,resulting in the lack of separation and connection between the two in practice,which will be detrimental to the effective play of administrative law enforcement and criminal justice.This paper argues that from the perspective of the timeliness and professionalism of investigating and dealing with securities crimes,it is necessary to establish a whole-process mode instead of a staged mode of connection,and to establish an efficient and relatively fixed connection mechanism based on the principle of efficiency priority.