Research On Internet Finance "Look-through" Provision Law

In recent years,the emergence of Internet finance has brought vigorous development to China's financial market,and the integration of emerging Internet technology and traditional finance has brought about a series of financial innovations.However,due to a series of problems exposed by Internet finance and its need for more flexible,stricter and more technical regulatory means,China's current regulatory system of separate industry supervision cannot meet the regulatory requirements.Therefore,"penetrative" regulation,a new regulation mode adapted to the characteristics of Internet financial regulation,has taken root in China."Penetrative" regulation emphasizes the principle of "substance over form",and requires regulators to penetrate the whole process of financial transactions to achieve their goal of "understanding the nature of things".This paper holds that"penetrative" regulation makes Internet financial regulation achieve the balance between"order" and "efficiency",and in the context of "strong supervision right" caused by imperfect laws and regulations related to Internet finance,the accuracy requirements of supervision means are required.However,the principle of "substance over form" can fundamentally close regulatory loopholes and make "penetration" regulation legitimate.But because our country did not "transmission" special supervision law,build a unified system of laws and regulations,on the application of the "transmission" regulatory boundary and no reasonable defined scope,and the "regulation first,rules to follow"administrative measures to implement the "transmission" regulation,make the"transmission" regulatory sparked public law and private law in practice,regulators,the expansion of executive power and restriction the administrative discretion,such as legal conflict.Based on the method of literature research,the combination of history and logic and the combination of theory and practice,this paper makes an in-depth analysis of these legal conflicts and explores their causes by using the principles of comparative financial legal value priority and incomplete legal theory.Finally,in the face of the "transmission"regulation of the various problems in practice and law,this paper puts forward to formulate the "transmission" regulatory specialized legislation pay attention to the coordination and unity of the whole legal system in our country,building a "transmission" the unity of the supervision laws and regulations system to achieve standard and phases of the law to interpret and supplement of the existing financial laws.At the same time,under the guidance of the goal-oriented concept,the "penetrative" supervision should be modest,abide by the principles of administrative law,and use the "flexibility" of law to limit the financial administrative discretion,so as to determine the boundary of the "penetrative"supervision scope and authority.