操纵证券、期货市场罪的历史流变、犯罪本质及刑法完善

On the Historical Evolution,Criminal Essence and Criminal Law Improvement of the Offense of Manipulating Securities and Futures Market

操纵证券、期货市场罪在我国刑法体系中经历过三次变革:在建章立制时期,《刑法》设立了操纵证券、期货交易价格罪,为刑事司法规制操纵行为奠定了制度基础;在法律变更时期,《刑法》修改了操纵证券、期货市场的行为要件,确立了操纵证券、期货市场罪的制度架构;在刑法体系建构时期,《刑法》补充了操纵证券、期货市场罪的行为模式,确立了以《刑法》为中心,以司法解释和立案规定为补充的刑事法治体系,明确了定罪、量刑的基本要件。在上述变革过程中,刑法的修订呈现出一定的滞后性,刑法的适用也呈现出对行政违法性的依附性特征,这主要源于理论和实务中对操纵证券、期货市场罪的本质认识不足。操纵证券、期货市场罪的本质是行为人滥用市场优势地位,人为控制或影响证券、期货市场行情。围绕这一本质特征,现有的司法解释仍需从以下三方面进行完善:第一,将“跨现货、期货市场操纵”修改为“跨市场操纵”;第二,将滥用程序化交易设备的操纵行为在司法解释中予以明示;第三,取消以违法所得作为入罪条件的规定,保持操纵行为入罪标准的一致性。在未来时机成熟时,通过《刑法修正案》的方式对上述修改予以确认。

The offence of manipulating securities and futures market has gone through three changes in the criminal law system of China.In the process of the changes,the amendment to the Criminal Law demonstrates a certain lag,and the application of the criminal law shows the characteristic of dependence on the administrative illegality,which are mainly due to the insufficient understanding of the essence of the offence of manipulating securities and futures market in theory and practice.The essence of the offence of manipulating securities and futures market is that the perpetrator abuses the dominant position in the market to artificially control or influence securities and futures market situation.Based on this essential characteristic,current judicial interpretation still needs improvement from the following three aspects:the first one is to abolish the provision of regarding the illegal gains as a condition for conviction so as to maintain the consistency of the conviction standard concerning the manipulating act;the second one is to change“cross-the-spot-and-futures-markets manipulation”to“cross-market manipulation”so as to make up the gap in the types of manipulating acts;the third one is to expressly set forth the manipulating act of abusing programmed transaction in judicial interpretation.At the right timing in the future,the abovementioned revisions should be confirmed through the amendment to the Criminal Law.