Research On The Legal Regulation Of Internet Banking In China

The Internet banking is the products emerged with progress of Technology and innovation of Finance. Since SFNB(Security First Network Bank) start running, the Internet banking shows its mighty vitality, owing to its low cost,high-efficiency, convenience, extensive application and other characteristics. The Internet banking is becoming the important means that financial institutions develop service area widely, increase business, adjust business strategy and promote development of finance. The legal problems about the Internet banking are challenging the traditional legal system and concept. Internet banking supervision law is an important component of the legal system of China's banking supervision .At present, China's Internet banking supervise on laws and regulations major "Internet banking Interim Procedures" and "E-banking approach" .The level of administrative regulations are low, and the law was not specific enough. Therefore improve our legal regulatory system of the Internet banking has very important significance. The dissertation consists of three parts besides the introduction.Part one is the summary for the legal regulation of Internet banking. The author introduces the definition of Internet banking fist. The definition of Internet banking is the base of the entire article. The author introduces the view of several foreign and domestic authorities on the definition of Internet banking, and analyzes the various viewpoints to summarize three cases of the bank and network integration. And conclude that there are broad-based Internet banking and narrow-based Internet banking. The broad-based Internet banking include interdependence and independence of Internet banking, and narrow-based Internet banking refer only to the independence. Analyzing of the development of China's Internet banking status and prospects , the author choose the broad-based Internet banking to study. Internet banking arising abroad , experienced a bank office automation period, the period of internal e-banking and the formation of development period. Since the first Internet banking birthed in the United States , Internet banking develop so fast through the upgrading of the network technology in countries throughout the world. It is a revolution of the global financial industry. China's Internet banking start lately, but it develops fast. The major domestic banks offer online banking at present. Through the above discussion, the author obtained several special nature of Internet banking compared to traditional banks. The heart is that Internet banking has high degree of dependence with the information technology. The development of the Internet banking caused tremendous impact on China's traditional banking supervision legal system. So improving China's legal supervision to Internet banking has important and far-reaching significance.In the second part the author analyzes the existing problems of the system of China's Internet banking supervision law. First the author introduces the status of the legal regulatory system to Internet banking in China. At present, China's Internet banking supervision legal system has begun to take shape. It is the legal principle of Internet banking supervision in the level of legal and administrative regulations. Only in the level of administrative regulations there are specialized legal documents for Internet banking supervision. It is mainly composed of "Interim Measures for Internet Banking" and the "E-banking approach". People's Bank of China promulgated "Interim Measures for Internet banking" in the early stage of the development of China's Internet banking. With the rapid development of Internet banking in China, it has been unable to meet the needs of Internet banking legal supervision. Thus, early in 2006 China's Banking Regulatory Commission issued the "E-banking approach". The author analyzes the system of current Internet banking legal supervision in China in this paper then. Study of the market access system and the continuous monitoring system, which concluded that China's current Internet banking supervision model is still the traditional model. Internet banking compared to traditional banks, has developed into a mixed business conditions. Secondly, in the base of the analysis of Internet banking supervision system based in China. The author points out the defects of Internet banking regulatory system in China. First, the legal regulation of Internet banking system is not perfect. Secondly the legal online banking supervision system in China is backward. Third, China's Internet banking legal liability is not clear. The above analysis is the foundation for the study of the third part.The third part is recommendations on improving our Internet banking regulatory system. Since 1990's electronic business has developed rapidly, and it effectively promoted the development of Internet banking business .As a wholly new banking, many legal issues come out for lack of related legal rules and supervisory provisions. Regular management and active supervision should be stressed to keep the Internet banking going normally and orderly. First, we must identify our Internet banking supervision law from three specific aspects. Market access to our Internet banking management system must be improved. It is necessary to set strict terms entrance to market, perfect its procedure and demands formalities of applying. I believe that we should distinct the independent type and the dependent type of Internet banking. Although independent Internet banking does not exist in China now, I think we should adhere to the principle of the combining "government-led management" and "market discipline" appropriately. Finally, it is necessary to regulate the market withdrawal system of the Internet banking in China, to reduce the losses. Second, we must improve our Internet banking liability provisions. We should enrich our Internet banking liability types .The author believes that not only include administrative responsibilities, but also added provisions on civil liability and criminal liability. Then we must formulate our Internet banking liability attribution principles and determine our Internet banking liability of way. Finally it is necessary to regulate China's Internet Banking disclaimer case. Here the author is mainly directed against civil liability aspect of the study. Third, we must improve our Internet banking supervision of the relevant legislation including two aspects. It is necessary to formulate supervision law which can adapt to the needs of the Internet banking development. The author presents two proposals. Then we should make the appropriate changes of the existing laws and regulations.Internet banking legal regulation is not only an important component of China's banking supervision system, but also related to the stability of the entire electronic financial market in China. At present the relevant academic research rarely, so it is necessary to conduct a systematic study. In addition this system involves economics and other disciplines, increasing the difficulty of the study. This paper is based on the economic law to analyze the current legal system in China and point out the deficiencies .At last the author put forward sound proposals.