操纵证券、期货市场罪行为方式的学理审视与司法适用  

The Academic Review and Judicial Application of the Crime of Manipulating Securities and Futures Markets

作　　者：孔忠愿 Kong Zhongyuan

机构地区：[1]华东政法大学

出　　处：《青少年犯罪问题》2023年第2期106-124,共19页Issues on Juvenile Crimes and Delinquency

基　　金：2022年度最高人民检察院检察应用理论研究课题“操纵证券市场违法犯罪的行刑衔接问题”的阶段性研究成果。

摘　　要：为增强与新《证券法》之间的协调性,《刑法修正案(十一)》对操纵证券、期货市场罪进行了联动修改。其中,本罪三项新型操纵市场行为的增设是对其行为方式的明确化。但这并不意味着修正前本罪行为方式的规定违背了明确性原则,仍有必要对明确性原则的具体内涵、判断标准与实现路径进行系统地梳理与澄清。此外,在体认立法上的犯罪化与司法上的犯罪化的语境下,犯罪化的概念应当重新界定。本罪增设三项行为方式虽系刑法修正,但并非立法上的犯罪化。在刑法修正与刑法解释的关系问题上,刑法解释的终点,即为刑事立法(刑法修正)的起点。但是,刑事立法(刑法修正)的起点,不一定是刑法解释的终点。在刑法解释所能辐射的范围内,除非基于价值上的重大考量,否则刑事立法无需加以修正,给予刑法解释足够的空间。本罪中兜底条款的规定为新型操纵证券、期货市场行为的刑法规制提供了充足的法律供给,同时也是本罪适用的难点所在。主流观点关于兜底条款的解释规则存在概念混同、标准混乱、形式理性与实质理性难以兼顾等诸多缺陷。应重构兜底条款的解释规则,提倡兜底条款相对从属性说。In order to enhance the coordination with the new Securities Law,the crime of manipulating securities and futures markets has been jointly amended in the Amendment(llth)of Criminal Law.Among them,the addition of three new market manipulation acts of this crime is to clarify the way of its behavior.However,this does not mean that the provisions of the mode of conduct of the crime before the amendment violate the principle of specificity.It is still necessary to systematically comb and clarify the specific connotation,judgment standard and realization path of the principle of specificity.In addition,the concept of criminalization should be redefined in the context of recognizing criminalization in legislation and criminalization in judicature.The addition of three behavior modes in this crime is the amendment of criminal law,but it is not criminalization in legislation.On the relation between criminal law amendment and criminal law interpretation,the end of criminal law interpretation is the starting point of criminal legislation(criminal law amendment).However,the starting point of criminal legislation(criminal law amendment)is not necessarily the end point of criminal law interpretation.Within the scope of the interpretation of criminal law,unless it is based on significant consideration of value,criminal legislation does not need to be amended to give sufficient space to the interpretation of criminal law.The provision of the bottom line clause in this crime provides sufficient legal supply for the new criminal regulation of manipulation of securities and futures market behavior,and is also the difficulty of the application of this crime.In the mainstream view,there are many defects in the interpretation rules of the pocket clause,such as confusion of concepts,confusion of standards,and dfficulty in taking into account formal rationality and substantive rationality.We should reconstruct the interpretation rules of the bottom clause and advocate the relative subordination theory of the bottom clause.

关 键 词：操纵证券、期货市场罪 明确性原则 犯罪化 刑法修正 兜底条款解释规则 

分 类 号：D924.3[政治法律—刑法学] D922.287[政治法律—法学]