The Question Research On The Supervision Subject Of Peer-to-Peer Lending Platform

The supervision problem of P2 P lending have received wide attention by the research field and the social public,how to build a supervision system that suit for both the industry development and the requirements of the financial stability is the center of this field.The academic community studies on this problem mainly contains the systematic risk of this industry,the relationship of civil rights and obligations,the assumption of system establishment and so on,but the specialized research on the supervision subject of P2 P lending is barely concerned.This thesis based on a quite different approach,we regard the main problems of the P2 P lending platform's supervision subject as the research's departure point.We try to find out the cause of the problem via the method of normative analysis and comparative analysis,after that,we attempt to standardize and improve every supervision subject to perfectly play their role on supervision and fill up the vulnerability of supervision system.Lots of supervision laws and regulations such as Interim Measures for the Administration of the Business Activities of Internet Lending Information Intermediaries have structured out the basic supervision system of P2 P lending.However,facing on the diversified development and complex situation of P2 P lending,we still faced various of issues.Systematic risk still exist,supervision legislation is still in place,financial consumer protection is lacking.Making up the deficiency when supervision subject perform their functions and sufficiently excavating their supervising value is a quite feasible way to solve these problem,and also is the thesis' s research emphasis.The supervision of P2 P lending is actually a form of financial supervision,in the conventional significance,financial supervision mainly means related government departments enforce a series of management and supervisory work on related industries or issues in accordance with the laws and regulations.That's why we usually regard the government as a narrow supervision subject.However,the concept of financial supervision can be broadly and narrowly defined.Financial supervision narrowly defined as before while financial supervision broadly covers a broader range of content,it includes a number of other social intermediary organizations' supervision in addition to the government such as industry self-discipline organization,we can also think of him as an expanded interpretation of narrow financial supervision.In the context of the current emphasis on management transform to governance,combined with the kernel of diversity management of polycentric governance,according to the broad understanding of financial supervision,we have limited expansion of the supervision subject of P2 P lending.While affirming the subject of government supervision,internal management and supervision of the industrial self-discipline are also seen as a broad measure of supervision,we hope that we can solvethe problems of P2 P lending supervision in China by diversified supervision.But,whether the government or the so called expanded supervision subject,they still exist lots of problems in the recent supervision system.The existence of these problems affects the effective implementation of its supervision responsibilities.This thesis will Start with the problems of these supervision subject,find out the crux of the problem and combine with the experience of foreign countries which is suitable for China,we try to provide some justification for fixing these problems.As the core of the supervision subject,the government still exist the following problems.The CBRC is mainly responsible for the supervision of P2 P lending which exist the disadvantages of the simplification of the main subject;the government regulations lack detailed guidance;the authority and responsibilities of government regulators are not clear.Investigating its reason,the contradiction between the multi-mode operation of P2 P lending and the partiality of intermediary character and the conflict between financial innovation and legislation hysteresis are the most important cause to those problems.To make up for these problems,we should rely on the acknowledgement of the validity of asset securitization in the mode of delegatio nominis,and then construct the binary supervision structure between the CSRC and the CBRC,meanwhile,we should further refine and define the institution of information disclosure and the obligation of the dereliction of duty of state supervision.The main problems of industry self-regulation are the deficiency of the national industry self-discipline regulation,the lack of specific operating mechanism of the industry and the absence of industry access and exit mechanisms.As a national self-regulatory organization,the network lending committee has just been established,the formulation of industry rules depends on sufficient time and experience,and unfortunately,this is what our country lacks.Previous regulatory strategies have been skewed towards easing which makes that the industry access and other measures that discourage industry development are ignored.Therefore,in the case of gradually recognition of the standardize and rigorous supervision strategy,industry self-discipline should formulate a complete self-discipline rule contains internal constraint specification,membership review and education and the disposal mechanism.At the same time,we should set relevant industry standards and improve the exit mechanism.