Research On The "Fallback Provision" Of Manipulating Securities And Futures Market Crime

With the deepening of the development of the Capital market,information manipulation,misuse of high-frequency trading and other new types of manipulated securities and futures markets continue to emerge.The three types of relatively traditional manipulation of securities and futures markets in Criminal law of China Article 182,Section 1-3 expressly Type does not catch this force.Without changing the existing provisions of Criminal law of China,the regulation of new types of crimes in the manipulation of securities and futures markets mainly relies on Article 182,item 4,"Other methods" as a "cover item".Due to the imperfections of prepositional administrative laws and regulations and the ambiguous nature of the "fallback provision"that bring challenge to the "Nulla poena sine lege",and in order to avoid the improper expansion of the power of criminal punishment,a homogenous interpretation method should be used to define the boundary of "fallback provision" scientifically and reasonably.Only the new type of market manipulation meets the rules of homogeneity interpretation,could be defined crime of manipulation securities and futures market.This article is divided into five parts,they are the definition of the anti-capital market manipulation legislation,the interpretation rules of Criminal law of China,the definition of "other methods" for the manipulation of securities and futures markets,the scope and application analysis of "other methods," and suggestions for resolving the applicable issues.Finally,the thesis analyzes the underlying causes of the problems arising from the application of the crime of manipulating securities and futures markets,and proposes to establish an appropriate legal system for securities and futures supervision and the introduction of special judicial resolution as soon as possible.and on these basis,improving the connection between administrative punishment and criminal sanction system.