Research On The System Of The Legal Supervision Of P2P Lending

Since the late 1990 s, along with the development of market economy and the progress of Internet technology, the Internet finance has begun and developed rapidly in China. It impacts the traditional modes of finance and then affects the whole financial industry. There are some typical modes of Internet finance including but not limited to third part payment, online sales of financial products, evaluation and audition of credit, financial intermediary and financial e-commerce.As one mode of the Internet finance, P2 P lending plays an important role in the financial domain. Therefore, research into P2 P modes and related legal issues in China is meaningful in avoiding risks, proposing the applicability of laws, and the implement of regulation. In view of this, this dissertation will study and thoroughly discuss the modes of P2 P lending and its legal risks in China. Drawing lessons from other developed countries and combining with our national condition, we put forward some practical proposals.The subject of the dissertation divides into four sections.Section One gives a brief introduction to P2 P lending, which has the characteristics of a wide range of participating subjects, flexibility and efficiency of transaction, high profit and application of Internet technology. Also, this section introduces several typical modes of P2 P lending at home and abroad in detail and analyzes the legal relationship in them. Furthermore, the risks are also analyzed which are credit risks, illegal funds raising risks, currency and securitization risks and financial risks.Section Two introduces the regulation measurements in P2 P lending in contemporary China. Nowadays, China lacks specific supervision administration as well as laws and regulations on P2 P network loan industry. Currently, measurements aiming at supervising P2 P lending mainly depend on self-regulation supervision of the loan platforms, but the national supervision departments gradually pay more attention on it and begin to intervene. This section also analyzes the defect and deficiency in the existing regulation measurements in P2 P lending in China, which are ambiguous definition of this industry, lack of related laws and regulations, lack of transparency and self-discipline in this industry and imperfect individual credit assessment.Section Three introduces the supervision and management measurements taken and laws and regulations applied in P2 P lending by foreign countries, especially the USA and the UK. This section also summarizes the characteristics of supervision in P2 P lending in developed countries represented by the USA and the UK, which mainly include emphasis on protection of consumers, comprehensive information disclosure, intensification development of loan platforms and sound credit evaluation system.On the basis of the previous analysis of our national condition and using measurements taken by western developed countries represented by the USA and the UK for reference, section Four summarizes suggestions on risk supervision in P2 P lending in China from the four following aspects: confirmation of supervision departments, perfecting the relative legal regulation system, strengthening the self-regulation supervision and foundation of credit assessment system.