| In 2007,the first P2P online lending platform in China "ppdai" was launched.Since then,P2P online lending platforms have been launched online in China one by one in an explosive growth.However,what's incongruous with the rapid development of P2P online lending platforms was that there was no legal regulations that could regulate P2P online lending platforms except for"Interim Procedures for the Business Management of Online Lending Information Intermediary Agencies" jointly issued by China Banking Regulatory Commission,Ministry of Industry and Information,Ministry of Public Security and China Internet Information Center on August 24th,2016.After P2P online lending platforms have developed for 10 years,an increasing number of problems have been emerging to the extent that there occurred "a wave of bankruptcy" in 2013.The resulting huge economic and legal risks have drawn great attention from the whole society.Therefore,it is imminent to put legal control on P2P online lending.Based on introducing the basic theories of P2P online lending,this thesis analyzed the legal risks of three main bodies of P2P online lending,borrowers,lenders and lending platforms and proposed targeted measures to control legal risks with the hope of promoting the healthy and stable development of P2P lending industry.The thesis consists of three parts.The first part mainly discussed the basic theories and operation modes of P2P online lending platforms.First of all,it defined the P2P online lending platforms,borrowers and lenders,analyzed the characteristics and properties of P2P online lending platforms and clarified the legal relationship involved in P2P online lending.Secondly,it introduced three operation modes of P2P online lending platforms:simple mediation,compound mediation and pure public welfare.Simple mediation was illustrated by examples of US Prosper and "ppdai",compound mediation UK Zopa and pure public welfare US Kiva.The second part analyzed the legal risks of P2P lending platforms,borrowers and lenders respectively.Due to the lack of admittance criterion for platforms,in terms of lending platforms,it led to legal risks including illegal fund raising,fund custody and liquidity;it terms of borrowers,it caused legal risks including distortion of information,lack of regulating fund use and leakage of borrowers' information;in terms of lenders,it resulted in legal risks including limited lending sources and relief approaches.The third part proposed suggestions of legal control targeted at legal risks in platforms,borrowers and lenders.As for the platforms,it was suggested to clarify regulatory principles,establish mechanisms of admittance and withdrawal,prevent illegal fund-raising and establish a mechanism of risk margin;with regard to the borrowers,it was suggested to perfect the credit system and establish mechanisms of tracking post-loan fund and preventing the information leakage of both borrowers and lenders;Concerning legal risks related to the lender,the author suggested to intensify lending supervision,adopt guarantee measures integrating the mortgage guarantee system and the credit insurance guarantee by the insurance companies and raise the penalty cost of defaulters. |
PDF Full Text Request