1. How to judge the crime of manipulating the futures market?
If a person commits the crime of manipulating the futures market, the court will impose a fixed-term imprisonment of not more than five years or criminal detention on the perpetrator according to the specific circumstances, and concurrently or solely impose a fine; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years and shall also be fined.
Legal basis:
Article 182 of the criminal law
Under any of the following circumstances, whoever manipulates the securities and futures market and affects the trading price or volume of securities and futures, if the circumstances are serious, shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention and shall also or only be fined; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall also be fined:
(a) alone or in collusion, pooling funds, equity or position advantages, or using information advantages to jointly or continuously buy and sell;
(2) colluding with others to trade securities and futures with each other at the time, price and method agreed in advance;
(3) buying and selling securities between accounts under its actual control, or buying and selling futures contracts on its own.
(four) for the purpose of closing a transaction, frequently or in large quantities, and cancel the declaration;
(5) Using false or uncertain important information to induce investors to trade securities and futures.
(6) Making comments, predictions or investment suggestions on the disclosure of securities, securities issuers and futures trading targets, and conducting reverse securities trading or related futures trading at the same time;
(7) Manipulating the securities and futures markets by other means.
If a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the directly responsible person in charge and other directly responsible personnel shall be punished in accordance with the provisions of the preceding paragraph.
Two, on the identification of "manipulating the futures market by other means":
(1) is "confusing transaction manipulation". Use false or uncertain important information to induce investors to make investment decisions, affect the trading price or volume of securities and futures, and seek benefits from it.
(2) It is "manipulation of hat-grabbing transactions", that is, Darkmouth manipulates stock recommendation. By making comments, predictions or investment suggestions on the disclosure of securities and their issuers, listed companies and futures trading targets, investors are misled to make investment decisions, which affects the trading price and volume of specific securities and futures, and conducts reverse securities trading or related futures trading.
(3) It is "major event manipulation". That is, the manipulation of "making up stories and drawing cakes". By planning and implementing false major events such as asset acquisition or reorganization, investment in new business, equity transfer, and acquisition of listed companies, investors are misled to make investment decisions, affecting the transaction price and volume of specific securities, and seeking benefits from them.
(4) It is "manipulation by information". By controlling the information generation of issuers and listed companies or controlling the content, timing and rhythm of information disclosure, investors are misled to make investment decisions, affecting the trading price and volume of specific securities, and seeking benefits from them.
In the futures market, speculators accept the risks transferred by hedgers and provide liquidity for the market. Therefore, the futures market should allow speculation, but should oppose excessive speculation, especially market manipulation. Market manipulators need to obtain a large number of futures contract positions, or gain the dominance of both spot and futures contract positions, so limiting speculative positions can effectively reduce manipulation.