Discussion On The Regulatory Legal Mechanism Of Internet Micro-credit Company

The internet micro-credit company is the product of the combination of the microcredit company and internet technology under the background that the domestic loan market is in short supply,mainly serving small and medium-sized enterprises and individuals that traditional loan financial institutions cannot serve.The internet microcredit company increases the supply of market funds,enriches the levels of loan market,and guarantees the rights of vulnerable borrowers to enjoy the loan services,which is an important part of the loan market.Legal mechanism is an important institutional guarantee for the internet micro-credit company.An impeccable regulatory legal mechanism can promote the healthy development of the internet micro-credit company and thus promote the balance of supply and demand in the loan market.It can help to ease the problem that the financing of small and medium-sized enterprises and individuals is difficult and expensive.The body of this article is discussed in four aspects.The first part has carried on the definition to the internet micro-credit company,elaborated its development and current situation,and come up with the opinion that strengthening the legal supervision of the internet micro-credit company accords with the modern contract theory and is helpful to alleviate the problem of loan market failure and promote the development of inclusive finance.The second part discusses the current situation and existing shortcomings of the regulatory mechanism of Internet micro-credit companies.First,the status quo of Internet micro-credit companies supervision includes no specific regulatory documents at the national level,different local regulatory policies and an excess of regulatory departments.Second,there are deficiencies in the regulatory legal mechanism,including the regulatory basis is not high enough in legal hierarchy,the regulatory body is not uniform,and the regulatory rules are flawed.The third part concludes the causes of the deficiencies.First,the regulatory concept is deviated.The current regulatory philosophy focuses on financial security but ignores financial efficiency,and attaches importance to the development of financial markets but ignores the right of all individuals to enjoy financial services fairly.Also the abuse of legal paternalism leads to over-regulation.Second,there is identity discrimination under the supervision,which is reflected in two aspects of financing discrimination and tax policy discrimination.Third,there is a lack of regulatory human resources and regulatory capabilities.In the fourth part,I propose the following suggestions for improvement.First,refactor the concept of supervision,pay attention to balancing the concept of coordination,and adjust the contradiction between financial security and efficiency with financial fairness.The second is to improve the regulatory system.To begin with,it is to improve the regulatory rules,including introducing "Regulations on the Management of the Micro-Credit Company" to improve the legislative system,determine the regulatory principles,build a market access system,operating system,exit system,and develop a feasible development direction.In addition,it is to unify regulatory body.