The crime of manipulating securities refers to the act of concentrating capital advantage, holding shares or positions, or using information advantage to jointly or continuously buy and sell securities, manipulating the trading volume and price of securities, creating a false image of securities, inducing or causing investors to make securities investment decisions without knowing the truth, and disturbing the order of securities. According to the law, whoever commits this crime 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. If a unit commits this crime, 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.

legal ground

Article 182 of the Criminal Law stipulates that whoever manipulates the securities and futures market in any of the following circumstances, 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: (1) acting alone or in collusion, concentrating capital advantages, holding shares or positions, or using information advantages to jointly or continuously buy and sell securities and futures, and manipulating the trading price or volume of securities and futures; (2) colluding with others to trade securities and futures with each other at the time, price and manner agreed in advance, which affects the trading price or volume of securities and futures; (3) Trading securities between accounts under its actual control, or buying and selling futures contracts on its own, which affects the trading price or volume of securities and futures. (4) 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.