浅析《证券法》关于操纵市场行为法律规范的难点问题

On the "Securities Act" on the Thorny Issue of Legal Norms to Manipulate Behavior

操纵市场行为是一种扭曲证券价格行为,严重损害中小投资者合法权益,破坏证券市场公正性的违法行为。根据新证券法规定操纵市场行为大体可分为"连续买卖"、"相对委托"、"冲洗买卖"与"其他操纵行为"等四大类,但由于我国是成文法国家,行政和司法机关在执法过程中必须严格依照法律等规定审裁断案,不允许超越或篡改法律,因此对《证券法》市场操纵规范难点的解读实际上关系到我国司法和行政执法过程中对市场操纵的具体认定,具有重要的理论和现实意义。

Market manipulation is a distorted pricing mechanism,the serious damage to the legitimate rights and interests of medium and small investors. Manipulate behavior can be roughly divided into ,,for sale＂ and ＂relative commissioned wash sale＂ and ＂other acts manipulated＂ into four categories, Meanwhile, China is enactments, administrative and judicial enforcement process must be strictly in accordance with laws and regulations Tribunal settle a lawsuit ,allowed to override or tampering with the law, So the ＂Securities Act＂ difficult market manipulation standardized reading actually related to the process of judicial and administrative enforcement of the city specifically identified market manipulation, the great theoretical and practical significance.