关于市场操纵调查和起诉的国际比较

International Comparison of Investigation and Suit of Market Manipulation

对市场操纵的监管是维护投资者利益的重要一环。近年来,随着新产品和新技术的发展,新投资者的不断加入,以及全球和跨市场交易的增加,跨边界和跨市场操纵的风险不断增加,操纵的手段不断花样翻新,所涉及的范围不断扩大,给各国监管者带来了严峻的挑战。本文对海外关于市场操纵调查和起诉的相关问题进行初步研究和分析,对市场操纵管制的规律和特征进行了总结。

Cracking down market manipulation is an increasing challenge to regulators worldwide and proves essential to safeguarding investor interest. In recent years, risks mount up in cross-border and cross-market trading as new instruments and technology develop and more investors come into the market. Means of market abuses get increasingly sophisticated and wide covered. This paper makes a preliminary study on market manipulation regarding its investigation and law suit and comes up with a review on the general principles and characteristics of market supervision.