操纵证券、期货市场罪“双重兜底”条款的适用  

The Application of the“Double Catch-all”Provision of the Crime of Manipulating Securities and Futures Markets

作　　者：魏彤 Wei Tong

机构地区：[1]华东政法大学刑事法学院,上海200050

出　　处：《上海金融》2025年第1期69-79,共11页Shanghai Finance

基　　金：国家社科基金重大项目“网络时代的社会治理与刑法体系的理论创新”(项目编号:20&ZD199)的阶段性研究成果。

摘　　要：本文以操纵证券、期货市场罪“双重兜底”条款的适用为研究对象,具体探讨了同质性标准认定和“双重兜底”结构下的行刑衔接问题。研究发现:兜底条款同质性解释的现有方案侧重“形”或“实”的单一标准,存在推演逻辑和适用效果上的缺陷。在处理刑法兜底条款与前置法关系时,也还存在过于依赖或者脱离前置法适用的误区。对此,本文提倡形式标准与实质标准的双重回归,主张发挥规范保护目的的统领作用,并借助类型化思维限定处罚范围。“双重兜底”的从属性指涉适用方法上的从属而非判断结论的绝对一致。“双重兜底”的独立性由法律效果决定,受到比例原则的制约。本文进一步提出建构操纵证券、期货市场罪“双重兜底”条款的阶层式适用规则:通过前置法的初查排除不具有前置法违法性的行为,探究刑法条文的规范保护目的,借助行为类型限制兜底条款的解释,并审查行为的应受刑罚处罚性,从而分流不具有刑事处罚必要性的行为。This paper focuses on the application of the“double catch-all”provision for the crime of manipulating securities and futures markets as the research object,and specifically discusses the identification of homogeneity standard and the administrative-criminal linkage under the structure of“double catch-all”.The study finds that the existing schemes to explain the homogeneity of the catch-all provision focus on the single criterion of eigher“form”or“substance”,leading to defects in deductive logic and application.When addressing the relationship between the catch-all provision and the pre-law,there is also a misunderstanding of over-reliance on or separation from the application of the pre-law.In this regard,the paper advocates the double regression of the formal and substantive standards,emphasizing the leading role of the purpose of normative protection,and limiting the scope of penalties throught typological reasoning.The subordination of“double catch-all”refers to the subordination of the applicable method rather than the absolute agreement of the judicial conclusions.The independence of“double catch-all”is determined by the legal effects and restricted by the principle of proportionality.This paper further puts forward the hierarchical applicable rules for constructing the“double catch-all”provision for the crime of manipulating securities and futures markets:through the preliminary examination of the pre-law,the behaviors that do not have the illegality of the pre-law are excluded;the normative protective purpose of the criminal,provisions is explored;the interpretation of the understatement clause is restricted by the type of behavior;and the punishability of the behavior is examined,so as to divert the behaviors that do not have the necessity of criminal punishment.

关 键 词：兜底条款 操纵证券、期货市场罪 双重兜底 同质性解释 双重决定论 

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