Research On The Legal Issues Of Robo-Advisors Supervision

With the rapid development of the Chinese market,Robo-advisers have also caused many regulatory problems,which is not conducive to protecting the rights and interests of investors and safeguarding the security of the financial market.The research and analysis of the legal problems in the supervision of Robo-advisers will contribute to the healthy and orderly development of the industry.Firstly,this paper expounds the concept,advantages and development of Robo-advisers,and then establishes the basic understanding of Robo-advisers.On this basis,the legal relationship involved in Robo-advisers is analyzed from the horizontal and vertical perspectives.Then,it analyzes the problems existing in China's Robo-advisers in the four aspects of entry barriers,investor protection,Regulatory technical barriers,and responsibility guarantee.Therefore,through in-depth understanding of the overseas Robo-advisers in the developed countries and regions' regulatory experience,combined with China's actual situation,it is proposed that China should set a reasonable threshold for entry,improve investor's appropriate management obligations and information disclosure obligations,to build a perfect Robo-advisers regulation system.In terms of supporting systems,it is necessary to establish Specialized agency responsibility system,improve the investor education system,establish the industry self-discipline mechanism and improve the regulatory coordination mechanism.At the same time,it is suggested to introduce the Regulatory sandbox model and make full use of RegTech in the supervision.And the dual liability guarantee mechanism including compulsory liability insurance and risk reserve should be established.