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近年来,我国证券市场逐渐发展出与传统长线“坐庄”模式存在差异的短线操纵行为,而我国的证券法律与相关实践都还围绕着传统操纵模式展开,加之学界对短线操纵的范畴边界存有争议,因此实践中规制短线操纵存在较大困难。本文作者认为,短线操纵作为法律尚未明确规范的一类操纵类型,与其他市场操纵行为和违法行为既有明显的区别,又有微妙的联系,相应地,既要沿用以往规制传统“坐庄”操纵的一些方法,还要引进和创新有针对性的监管规制手段。
In recent years, the securities market in our country has gradually developed the short-term manipulation behavior that is different from the traditional long-term “Zuozhuang ” model. However, the securities law and practice in our country also focus on the traditional modes of manipulation. There is controversy, so there is a big difficulty in regulating short-term operation in practice. According to the author, short-term manipulation, as a type of manipulation that has not been clearly regulated by law, has obvious differences from other market manipulation behaviors and infringements and has subtle connections. Accordingly, it is necessary to follow the tradition of “ ”Some methods of manipulation, but also the introduction and innovation targeted regulatory instruments.