尾市交易操纵行为的法律责任研究

Legal Responsibility of Manipulation of Security Transaction Prices

近年来,尾市交易操纵行为愈演愈烈,对我国证券法律法规及市场监管提出一次又一次挑战,对证券市场造成极大破坏,严重损害了广大投资者的合法利益。这种情况很大程度上归责于我国对证券市场操纵法律责任体系的失衡,因此对该体系完善刻不容缓。而我国在这方面的理论研究和实务践行方面还不深入,因此必须借鉴美国、日本等国家完善的证券法律责任制度,以构建适合我国国情的证券市场操纵行为法律责任制度。

In recent years, the manipulation of security transaction price bursting out in closing stage springs up, posing challenges to the legal supervision and law of security market again and again. Besides, the security market and investors＇ legal interest suffer a terrible loss. This phenomenon should be blamed to the defect of legal responsibility system to great extent. Actions to fight the crime are expected immediately. However, we lack of fully research and practice in this field. It＇s necessary to use America and Japan＇s consummate security legal responsibility system for reference to build the anti-manipulation of security price system that suits for China.