论以虚伪交易方式操纵证券市场

On Manipulating the Security Market with False Transaction

证券操纵行为几乎成为中国证券市场的一大痼疾,以虚伪交易方式操纵证券市场价格是操纵者惯用的手法。虚伪交易可进一步分为冲洗买卖和相对委托,为厘清二者间容易产生混淆的几个问题,需从行为的主体、行为方式及主观要件等方面加以认真剖析。

Acts of manipulating the security have almost been chronic illness of Chinese security market. Rigging the security market with false transaction is idiomatic ploy of the manipulators. False transaction includes wash sale and countercommission, and these two aspects should be distinguished from each other by analyzing the subject, action and subjective element.