The Project Of Researching The Soft Law Application Of Customer Rights’ Protection In The Area Of The Internet Finance

Capital always drives after profit naturally, the finance has always been the most dynamic area. Representing the new generation of Internet information technology, cloud computing, search engines, social networks, big data are progressing rapidly. Finance represents the funds while the Internet represents the technology. These two elements are indispensable important for human society. Historically, the combination of technology and capital can always accelerate the progress of the society. In recent years, the Internet Finance is developing under the union of technology and capital. Applying hard laws is the traditional model to protect the rights of consumers. However it tends to effortless when dealing with the new problems caused by the Internet Finance. Combing the soft law theory with consumers’ protection in the area of the Internet Finance, the soft law can regulate some areas that hard laws cannot get command of. The above are done depend on the flexibility, openness, responsiveness of soft law. Through public governance, the interests of the consumers can be effectively protected. And the financial innovation can be promoted. Last but not least, it can keep the Internet Finance developing healthy at the same time.The author apply the methods of empirical analysis and comparative studies to this article. The paper first gives a brief outline of the Internet Finance. Comparing with traditional finance, the Internet Finance is public-beneficial, high efficiency and disintermediationly. From the perspective of the market entity, new problems of consumer’s protection show up along with these new features. Government’s legislation and enforcement cannot march the development of the Internet Finance in step. Trade association’s self-regulating cannot performance well in our country. From the view of consumers, the Internet Finance obtains an invisible running mechanism which leads to some hardness that consumers will face when they are protecting their rights. Then the next part of the article analyzed the efficacy of two kinds of path which are the hard law and the soft law. In the environment of the Internet Finance, traditional hard laws barely meet the needs of the protection of the consumers’ rights further. According to the brief outline of soft law, this paper point out that soft law is irreplaceable cause it can overcome the double failure, remedy the defect of hard law and reflect the financial democracy. The author considers that the theory of soft law governance, the participation of government, the financial industry and consumers should be valued. Then, this paper draws lessons of the successful experience of soft law governance in financial consumer rights protection from the United States, the European Union and Japan. Then makes efforts to build up the Internet Finance consumers’ protection system of soft law in China. Finally, the basic guarantee of the soft law governance is the participation of the market entity in a fair and equitable procedures. And the hard law should be used to support the soft law, the mixed legal system can protect the consumers of the Internet Finance comprehensively.