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Study On Legal System Of Supervision About Internet Bank

Posted on:2011-10-01Degree:MasterType:Thesis
Country:ChinaCandidate:M M LvFull Text:PDF
GTID:2166330332963642Subject:Economic Law
Abstract/Summary:PDF Full Text Request
Internet banking has been the latest financial service method in the field of electronic commerce since its birth in 1990s. Regulated by the Chinese current law, it is a new style bank basing on the computer technology and internet technology which provides various financial services through internet with the mode of electronic data. Thanks to the combination of technical and financial innovation, Internet bank, no matter what kind it is, has many particular characteristics which traditional bank cannot compete with, such as high efficiency, low costs, virtual service, openness and can provide all-weather, cross-regional, real-time, high efficiency service for clients.After birth, the quick development of internet bank drew people's attention, meanwhile, there are some problems to be resolved urgently. Internet bank is still high risk, because not changing its nature as a bank. At the same time, new risk types has been added because its combination with internet and computer and some other new features, the supervision for traditional bank doesn't suit the internet bank. Internet bank has put forward new challenge to the current law, especially to the supervision system. How to supervise the internet bank effectively in modern times has become to a quite important subject for each country.Around the world, America electronic commerce develops very quickly. Meantime, Internet bank appeared earliest and the advantages are emerging gradually. The government supervision to the internet bank is in a high level. European nations also have their own modes, especially British. However in Asia, the Internet bank in Singapore and Hong Kong has been focused attention upon, and their practice of supervision offers us some new thoughts to reform our legal supervision system. Analyzing the practice of developed countries and regions, we conclude that advanced legal institution is the basis of effective supervision. The supervision couldn't been effectively carry out until the legal institution establishes its aim, institution and content of supervision. However, analyzing our legislation of supervision to the internet bank, we find the following problems which go against effective supervision to internet banking:firstly, the legislation level is low; secondly, the regulation on admittance to market is illegible and uncritical; thirdly, financial institutes themselves lack audit inside; fourthly, the legal liability is not clear and lack of effective protection of the clients; fifthly, the mechanism of quitting the market is not perfect. All of problems show that our legal institution on supervision to internet bank now could not satisfy the supervision to the internet bank. To establish and improve the legal supervision system to the internet bank which can joint track with international standard and suit to our national conditions, researching the theoretic of supervision deeply, has a far-reaching academic significance and pressing realistic meaning.The legal supervision system on internet bank is a whole of a set of mechanism and organization. In order to meet the need of supervision to the internet bank, support social public's confidence, and establish a financial system in which operate normatively management and compete fairly, promote the development of the financial industry faster under the new technique, this paper puts forward some lawmaking suggestions including:on the basis of the current legal institution of supervision, according to the characteristics and demanding for supervision of the internet bank, the government should make appropriate adjustment and complementarities, or unveil specific regulations; the government, under the principles of safety, protecting customers'benefits, opening, compatibility and globality, should establish a multiple legal supervision system combined by subjecting to protect customers' benefits, supervised by government, industry self-discipline and inner control of internet bank; and establish a integrated supervision chain from market admittance, present supervision, absent supervision to market withdraw.
Keywords/Search Tags:Internet Bank, Risk, Supervision, Legal System
PDF Full Text Request
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