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Research On Legal Issues Of Localization Of Supervision Sandbox

Posted on:2021-01-11Degree:MasterType:Thesis
Country:ChinaCandidate:X D ZhuFull Text:PDF
GTID:2416330626466287Subject:Law
Abstract/Summary:PDF Full Text Request
The term FinTech is a fusion of the words finance and technology.Although the financial industry has been developing vigorously through scientific and technological means for many centuries,the term FinTech marks the popularity and attention of the game among financial innovation,financial crisis and financial regulation in recent years.FinTech not only covers the financial and technology,it also covers the emergence of a series of participants from the technical environment,the participants,including but not limited to,financial technology,data driven financial service providers,etc.,these enterprises brought about by the destructive innovation not only brings the prosperity of the industry,also the profound challenges of the current traditional regulatory paradigm.Financial regulators are increasingly seeking a balance between the traditional regulatory goals of promoting financial stability and protecting consumers and promoting financial growth and innovation.The resulting regulatory innovations include RegTech,regulatory sandboxes and special charters.The sandbox system first came into people's view through the "project innovation" program initiated by the financial conduct authority(FCA)in 2015,which has attracted hot discussion and imitation from all countries in the world.China,as the world's largest economy,has also paid high attention to it.Through the search of relevant policies and literatures in recent years,it is not difficult to see that,on the practical level,in order to cope with the challenge of FinTech,China is trying out the "supervision sandbox" mechanism at the beginning,and trying to correct the system design suitable for its national conditions from practice.At the theoretical level,because belong to the emerging field,financial science and technology brings new problems also belong to a initial stage,therefore belongs to the supervision of the "import" sandbox system how to overcome the obstacles faced in localization and bottlenecks,and guide our country toward the effective risk control of financial technology forms,promote the key and the direction of financial innovation is particularly important.In the process of overcoming the legal problem of overcoming obstacles faced by localization,the theoretical aspects,referring to overseas sandbox supervision concepts,rules and experience,combined with the current status of local supervision system design,transformed the past single rule supervision into principle supervision and monotonous prudence Supervision infiltrates the mode of behavior supervision.At the same time,in practice,it summarizes several typical sandbox models in the world,and studies the related problems and advantages of the operation of each sandbox model,thus conducting a three-dimensional and in-depth discussion on the establishment of the sandbox system under different regulatory backgrounds On the basis of this objective analysis,it focuses on the difficulties and solutions introduced by sandbox localization as a foundation for the implementation of an accessible and sustainable sandbox system.At the same time,further resolve the trade-off between reasonable supervision and innovation support.
Keywords/Search Tags:FinTech, Regulation sandbox, Regtech, Financial consumer protection
PDF Full Text Request
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