| Since 2005 the world’s first P2 P lending platform Zopa network was born, this new financial model spread rapidly around the world, a new concept of Inclusive Finance, financial disintermediation brought to this model began to win support among the people. In 2014 America P2 P giant Lending Club successfully listed on the NYSE, is to let the world sit up and take notice of this new financial model. The first domestic P2 P net loan platform a pat on the loan was established in 2007, then the new financial forms in China showing explosive growth. Just a few years, the number of domestic P2 P platform to break through 2000, in 2014 the annual turnover exceeded two hundred billion dollars, and this number continues to grow.P2P net loan industry in the country with the vigorous development of the government on its tolerance, encouragement is closely related to the. As everyone knows, P2 P net loan industry in the regulatory vacuum, showing the so-called "three notes" : no barriers to entry, no industry standards, no regulatory agencies and 2 regulations. Also because of such, chaos is another picture of the domestic P2 P net loan industry. The number of P2 P net loan platform rapid growth at the same time, the number of platforms rapid growth, P2 P net loan platform Run away event repeatedly hit the newspapers, more risk and supervision of the relevant regulatory departments and the attention of the academia.In this context, the establishment of the CBRC Inclusive Finance, inclusive finance department internal net loan Research Office, responsible for the P2 P net loan industry regulation, at the same time, scholars have carried out extensive research and study. This paper is divided into four parts, based on relevant existing research, dedicated to the P2 P net loan platform as a starting point, to study the main risk in the operation, and then put forward the corresponding suggestion of supervision.This part mainly analyzes the definition of P2 P net loan, so as to define the scope of this article; and then combined with the different operation modes of P2 P net loan platform, their legal nature analysis, finally obtains its legal position.P2P net loan development so far, in the original P2 P net loan operations on the basis of the model, the different types of P2 P net loan platform, its service object is no longer confined to the personal loan. Therefore, this paper combined with the development trend of P2 P net loan at the same time, based on the existing research results, which is defined as: net loan intermediary platform based on this information, both lenders and borrowers(between natural persons, legal persons and other organizations) direct debtor creditor relationship financing.On the legal nature of P2 P net loan platform, the definition is not a. USA regulator according to the "Securities Law" and the relevant cases, P2 P net loan platform debt instruments issued as in securities law, securities, the P2 P net loan platform as the issuer, the strict supervision system into the Commission; the UK regulator for P2 P net loan to formulate corresponding regulations, P2 P net loan as an "alternative financial", actually has the P2 P net loan platform as a new financial institutions. Law of our country at present the nature of P2 P net loan platform is not clearly defined, the China Banking Regulatory Commission before the introduction of the document will be P2 P net loan platform is defined as a credit intermediary. At the same time, the academia has two kinds of opinions on this issue mainly: the credit intermediary and quasi financial institutions.In this paper, based on the existing research and the trend of the development of P2 P net loan lending platform P2 P network, will be identified as a quasi financial institutions, different operation mode should not affect the determination of the nature of the P2 P net loan platform, which should be embodied in the regulation.The second part: risk and regulatory status of the P2 P network lending.This paper discusses the risk P2 P net loan platform innovation lies in: the difference of P2 P net loan platform based on the mode of operation, to explore the common risks and special risks, and it is pointed out that the regulation dilemma facing the industry. The common risks mainly include: the risk of illegal fund-raising; credit risk technology risk; money laundering. Specific risk refers to the risk of guarantee platform: risk guarantee agencies. The third part: a comparative study of the regulatory network of P2 P lendingChinese as P2 P net loan of the bright younger generation, although the number of net loan platform, the overall turnover is much higher than abroad, but in the risk control is far less than foreign. This part mainly introduces the supervision practice of Britain and the United States on the P2 P net loan, in order to help for the construction of the domestic regulatory system. First, should mature supervision system based on the current situation of the development of full understanding of the domestic financial environment, the P2 P net loan basis, and adjust the. Second, handle the relationship between regulation and innovation, and promote the development of the industry to find the best balance between the protections of financial consumers. Third, in view of China’s P2 P industry "three notes state", China should be clear as soon as the P2 P net loan industry regulation subject, regulation, supervision object.The fourth part: the Legal Countermeasures of credit risk P2 P network in china.This paper refers to the legal countermeasures mainly from the narrow financial supervision aspect, mainly refers to the legal basis, regulators regulatory P2 P industry etc. The essence of P2 P domestic net lending platform has evolved into a comprehensive financial platform for the public to raise funds, can at the same time, by the investor at its own risk, similar to the public offering of the fund; and at the same time provide guarantee, as a credit intermediary, similar to the "bank money"; also can be for public issuance of financial products. It seems that the traditional financial business when combined with P2 P net loan can be an easy job to format the faces around the financial supervision. So how to eliminate the regulatory arbitrage and make the P2 P net loan industry healthy development, give full play to its advantages of small micro finance? In this paper, in reference to foreign regulatory practice and facing the situation of the development of the domestic P2 P net loan industry, starting from the regulatory guidance and supervision system, trying to put forward constructive suggestions for the construction of P2 P net loan regulation system.Regulatory guidance, both to absorb foreign experience, but also rooted in the current development of domestic. Adhere to four principles: first, regulatory principles, adhere to the four regulatory principles: financial innovation and tolerance principle, function of regulatory principles, regulatory consistency principle, the principle of protection of consumers. The regulatory regime, the existing laws and regulations to eliminate unreasonable restrictions on the one hand, the development of P2 P net loan industry; on the other hand, to speed up the P2 P net loan industry legislation, the introduction of "regulation of P2 P networks lending industry rules" as soon as possible, a clear legal position, the P2 P network lending platform regulatory body, regulatory methods. |
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