Study On The Legal System Of Internet Banking Supervision In China

On December 29 th in 2014,China's first true Internet bank has been on operation,which does not have any physical business outlets,and it's all business are online.The Internet bank's innovative business model and operational thinking broke the limit of traditional bank's operating time and space so that it can bring new opportunities to Pratt & Whitney financial and innovative bank service.However,the Internet bank has some original characteristics which have conflicts with the existing regulatory requirements.The Internet bank does not have a business network,use a remote account instead of "face sign" system and change the collateral security to large data.In addition,the Internet bank shows a new feature in the field of risk.In the future,we should pay attention to how to improve the supervision of Internet bank,maintain the stability and security of financial markets and promote the further development of Internet bank.In view of this,we should improve the supervision legal system to suit for Internet bank on the existing legal framework.There are seven chapters in this paper.The first chapter is an introduction which has a brief description about this article's writing background and research purpose and meaning.The second chapter is an overview of Internet bank.In this chapter the author aims to clarify the Internet bank's notion and differences.The author first compared them with some easy-to-understand concepts to make a more clear understanding of Internet bank,and then introduces the existing development of Internet bank.The third chapter is an analysis about the necessity and feasibility of Internet bank supervision.The author discusses the necessity of supervision from new facing characteristics of risk and lacking of regulatory legal system.Then the author talks about the feasibility on the basis of the main arguments from the current situation of our country and lessons learned from abroad.The fourth chapter is about the status quo and shortcomings of regulatory legal system in China's Internet bank.The author analyses the status quo in three levels and then points out the current lack of regulatory system.The fifth chapter is about the legal system of Internet bank supervision abroad and its enlightenment.the author aims to introduce some experience of representative countries in supervision in order to draw some enlightenment to ours.The sixth chapter is the consummation of the legal system on Internet bank supervision in our country.The author gives some suggestions and thought to perfect the supervision of Internet bank in China from four aspects which are supervision subjects and principles,compliance supervisions,risk supervisions and protection of financial consumers' rights and interests.The final chapter is a conclusion of this article.