| The governance of small-loan companies mainly involves the following aspects:principal status in the market,capital system,business regulation,operating risk prevention and supervision.Currently,the problem of small-loan companies during the governance in China is whether the companies in China's financial institutions should be granted a principal position or not.In terms of capital system,it is mostly about financing tightly restricted and ownership structure unreasonably regulated.In the matter of operational principle,the national policy limits its service object to the small and medium enterprises,agriculture,rural areas,farmers except the small-loan companies,which results in illegal operations in a few small-loan companies in order to get short-term profits.The problem existed in risk prevention is that the benefit isn't so satisfactory in preventing default risk even though the borrower takes joint guarantee or mutual guarantee or other measures.The regulatory requirements in small-loan companies doesn't match with its scope of operation in terms of market regulation,the guideline opinions of the small-loan companies is too light,local legislation varies each other even conflicts with the guideline opinions,which causes confusion in the regulatory of small-loan companies nationwide.What's more,the current mode of administrative supervision leads to the fragmented regulatory framework and regulatory gaps easily.As the establishment of Wenzhou financial reform experimental zone,some policies have been released to regulate the small-loan companies,including but not limited to directional financing,interbank lending,record filing system for private lending and etc.,which has a good impact on the corporate governance of petty loan and further provide useful experience for the development of petty loan companies.However,considering the uncertainty of the company status and the legal hierarchy of the prevailing regulations,corporate governance for petty loan companies can be improved from the perspective of supervision,financing source,share structure,operational risk management and etc.In order to perfect laws and regulations on governance small-loan companies,firstly we should solve the problem of the subject status of the small-loan companies.By analyzing a series of normative legal documents and discussing the theory of principal status in the market,it comes to the conclusion that small-loan companies have the nature of financial institutions.After learning that small-loan companies are financial institutions,then their legal strategies of governance include the following aspects:one is about the basic principles of governance.The governance of small-loan companies should adhere to the principles of safety,efficiency and fairness which are the same important,the combination of market regulation and government intervention,and the combination of internal control and external control.Secondly,it will optimize the regulation system of micro-credit company by improving the effect of micro-credit company law system,perfecting supervision laws and regulations,clearing regulatory agencies and regulatory responsibilities in the external governance mechanism of small-loan companies.Third is the internal governance mechanism in small-loan companies.It puts forward proposals about how to improve the internal governance mechanism in small-loan companies from three aspects,financing channel,ownership structure and measures against business risks.This part tries to broaden the financing channels of small-loan companies by improving the banking financial institutions,issuing company private bonds,borrowing from shareholders directly.Through improving the eligibility requirements of shareholders,extending the limitation of shareholding ratio of main sponsors and avoiding excessive concentration of equity in order to adjust the equity structure,it is aimed at building a business risk prevention mechanism in a way of setting up a loan reserve fund system,loan insurance system and credit guarantee fund system. |
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