| P2P online lending platform is a new mode of financial services which uses Internet technology. According to the latest official view from Online Lending Information Intermediary Interim Measures of Business Operational Activities(Draft) released on December 28, 2015(i.e. P2 P Regulatory Rules), online lending is defined as the direct lending realized through the Internet platform between individuals. The individuals include natural persons, legal persons and other organizations. The P2 P online lending platform is also defined as a lawfully established financial information intermediary specializing in the intermediary business of online lending information. It mainly takes the Internet as its main channel, providing the services such as information collection, information release, credit evaluation, information interaction, lending setting, etc., for borrowers and lenders to realize the direct lending. The purpose of it is to better meet the investment and financing demands of micro, small and medium enterprises and individuals. The P2 P online lending platform is endowed with democratic finance, HP finance and financial disinter-mediation and other various meanings. However, the platform business activities in disorder and chaos will lead to the collapse of the P2 P industry, and even affect the normal development of the financial industry. Foreign researches focus on the risk control methods of P2 P online lending as well as the market main body behaviors in P2 P online lending. However, at present in China, the researches of P2 P online lending platform mainly focus on business pattern, main risk and regulatory system construction of P2 P online lending platform. The author thinks that, after the P2 P platform business nature is defined and the information is fully disclosed, the conduct study may become a new focus in our research. Therefore, it is taken as a starting point that the official definition of P2 P online platform is information intermediary organization, and in the aspect of the “business conduct” of P2 P online lending platform, this paper analyzed the business conduct of P2 P online lending platform one by one, and puts forward the corresponding legislative proposals on the basis of integrating the actual legislation situation of P2 P online lending in our country and other countries' legislation experience. It is hoped that it might provide certain reference to the legislation of P2 P online lending platform of our country.In addition to the preface and the epilogue part, this paper consists of four parts:The first part is the basic theory of P2 P online lending platform development in our country. Firstly, it takes P2 P online lending platform to compare with similar institutions such as commercial banks, non-deposits taking lenders; and then, it takes the “business conduct” of P2 P online platform to compare with similar concepts of “marketing” and “borrowing”. On the basis of the comparative analysis, the features of P2 P online lending platform and its business conduct could be defined. Secondly, the first part also further analyzes the guiding thought to regulate the P2 P online lending platform in our country. It is discussed mainly from the aspects of the economical of law, the legislation of financial regulation on the balance between financial efficiency and financial security.The second part is a summary analysis of current situation of the business conduct of P2 P online lending platform in China and the problems of relevant legal regulations. Firstly, there is an analysis of main business conducts of the current P2 P online lending platform from the aspect of legal regulation, generalizing three types of business conduct, respectively, the type of allowed-by-law, the type of forbidden-by-law, and the type of indef-allowed-by-law. Then, it mainly summarizes three problems on the legislation of the business conduct of P2 P online lending platform, namely,(1) unclear boundary between legality and illegality, and the dislocated legal system;(2) unclear current legislation on the forbidden business conducts;(3) the lack of effectiveness of legislation on the legal business conducts.The third part compares the legal regulations on P2 P online lending platform in Britain with that in the United States so as to respectively get the features of P2 P online lending platform development of these two countries and the corresponding pros and cons of the legal regulations. After that, some adoptable regulation advice on P2 P online lending platform for the relevant legislation in China in the future can be drawn from the analysis of the financial environment of these two countries.The fourth part is the legal advice about P2 P online lending platform regulations, providing three pieces of advice for the three problems put forward in the second part. Because of the unclear boundary between legality and illegality about financial crimes in the laws of our country, the disorder of administrative penalties and criminal punishments, and the dislocated legal system, it is advised to reasonably define the cross-border crimes of P2 P online lending, and establish a misdemeanor punishment system. And then, since the current legislation on the forbidden business conducts is unclear, it is suggested to grasp the key issues that should be forbidden from the current disorderly business situation, and define the forbidden business conducts of P2 P online lending accurately and reasonably. At last, because of the lack of effectiveness of legislation on the legal business conducts of P2 P online lending platform, it is suggested to improve the supervision to the platform, and set up the rules on the non-cautious process control supervision. |
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