Research On Legal Risk Of Informal Finance

Informal finance has always been an important part of economic society,but it has always been treated differently at the legal level.The difference between informal finance and illegal finance is not clear,the lack of the main role of informal finance,the lack of power guarantee mechanism and legal supervision have all become obstacles to the development of informal finance.This is not only because of the excessive administrative intervention of the government and the congenital defects of informal finance,but also because of the serious lag between China's legal system and the speed of economic development.With the establishment of the market economy system and the writing of the rule of law into the constitution,the concept of the economy under the rule of law has been deeply rooted in the hearts of the people,market subjects require equal treatment,and fair competition also prompts us to reflect on the legal risks faced by China's informal finance.There are many forms of informal finance in China,such as private lending,rural cooperative foundations,underground Banks and private equity funds.They have played an important role in making up the deficiency of formal finance,promoting the development of small and medium-sized enterprises,promoting the development of China's economy,enhancing the liquidity of market funds and improving China's financial system.However,the development of informal finance also faces many legal risks.Lack of protection of legal rights,rights and interests are vulnerable to government policies and systems;Legal supervision system blank and so on.Although the original intention of financial law is stability and efficiency,controlling financial risks and ensuring financial safety are also the basic goals of financial supervision.However,in practice,some efficiency is always sacrificed to achieve stability,which increases the legal risk of informal finance.Although informal finance has never been taken seriously in China,it has been born into a thriving situation in many countries that give it legal status.By comparing the United States,Japan and India and other countries of the informal financial development and legislative situation,concluded that the financial legislation must keep up with the pace of the development of social economy,countries should abandon the financial sector too muchintervention,informal financial institutions are allowed to enter the financial market,break the inherent monopoly form in China,the building with a benign competition in the financial markets.The research on the legal risk of informal finance and its countermeasures is an important issue in the development of China's financial market,and also a hot topic in the study of China's financial law.Through forming correct understanding from the legislative value orientation,face up to the objective existence of non-formal finance,giving legal status of informal finance,protect their legitimate rights,to solve the legal risks of non-formal finance,is to facilitate the needs of diversified development,financial markets and financial system reform in our country and improve the financial legal system needs.