Identification Law Of Futures Market Manipulation

To define the manipulation of futures market is a difficult problem in futures market regulation.General civil law legislative definition of idiomatic way is general terms and conditions and terms of the enumerated type,plus out terms,under the existing futures market regulations,our country still needs to increase the general provisions of the futures market manipulation and the terms of the enumerated type,can solve encountered in the law enforcement practice problems of futures market manipulation,truly according to the law enforcement in accordance with the law.What is to be congratulated is that the CSRC has recently issued the provisions on "other manipulation of futures trading prices"(hereinafter referred to as the provisions)in article 70 of the regulation on futures trading management >,which is an important step forward in the process of standardizing the identification standards of futures market manipulation.In order to ensure the healthy development of the futures trading market and give better play to the market function to serve the development of the real economy,it is crucial for the regulatory authorities to strictly enforce the law and market subjects to know and abide by the law.Therefore,on the basis of sorting out the rules and regulations on the identification of market manipulation of futures trading in and out of the region,this paper will elaborate the definition and regulations of the new type of market manipulation of futures trading based on the law enforcement experience of futures market in China and the content of the new regulations,and put forward Suggestions for improving the rules and regulations of market manipulation of futures trading.In addition to the introduction and conclusion,this paper consists of the following four parts:The first part sums up the domestic and foreign historical experience of futures market manipulation.China’s futures market started relatively late and has less legislative and regulatory experience than other countries.Comparing relevant experience inside and outside the region is conducive to forming a more comprehensive understanding of the manipulation of futures market.By summarizing the rules for defining the manipulation of the futures market,it can be found that both the United States and the United Kingdom apply the standard for determining the main line of "intention",which is also consistent with the latest changes in the regulation of determining the manipulation of the securities market in China’s securities law(the third review).In the second part,the author sorts out the new cases of futures market manipulation emerging in practice in China,and interprets the new attempts made by the regulations on the identification and regulation of futures market manipulation.Manipulation occurs in the actual trading of futures market,so the research on the identification and regulation of manipulation of futures market cannot be separated from the empirical analysis from practice.Based on the aforementioned analysis of national recognition and regulation,this paper sorts out new cases in practice,interprets the new problems and innovations covered by the regulation,and probes into the basic logic of the identification of manipulation behavior in the regulatory system after the promulgation of the regulation.The third part points out the inadaptability and improvement of futures market manipulation identification regulation in practice.First of all,the case is used to deconstruct the hoarding manipulation behavior pattern,which can easily lead to ambiguity if the expression is not rigorous.Secondly,by analyzing the existing identification rules and combining the actual situation,it points out the ambiguity of the identification standards of futures market manipulation.Finally,it points out the regulatory dilemma of blank civil legal liability for futures market manipulation.The fourth part puts forward some Suggestions to improve the regulation of futures market manipulation.First,fill in the expression flaw,include cross-term market manipulation behavior pattern.Secondly,it should supplement the general explanation of market manipulation,clarify the red line of market manipulation,and standardize the identification standard of futures market manipulation.Finally,fill the blank of the futures manipulation of civil liability,thus strengthening the consciousness of market participants to obey the law performance,form good honesty culture industry,to the futures market participants selfdiscipline mechanism,build healthy law-abiding futures market transaction the new environment,to enhance the public’s confidence in the futures market,make more and more people believe that the futures market,to participate in the trading of the futures market.