Research On Legal Regulation Of Robo-Advisor In China

In today's society,the combination of high and new technology and real industries promotes economic development,and the world is undergoing a large-scale economic transformation,and the previous mode of production and cooperation are facing great changes.The economic growth model driven mainly by innovation is becoming dominant.Among them,the new technologies represented by big data,artificial intelligence and blockchain may become the vanguard of a new round of scientific and technological revolution.The application of these technologies in the financial field will also break the pattern of the traditional financial industry and usher in a new era.Artificial intelligence is the main representative of new technology in recent years,and Google's AlphaGo has caused a sensation all over the world.The Robo-advisor is the best example of the application of artificial intelligence technology in the financial field.It uses the unique algorithm of artificial intelligence and big data as the support,and is based on investment analysis methods such as modern portfolio theory,provide investment advice for investors,and some can even directly manage investors' accounts and trade automatically.After the financial crisis in the United States,smart investment advisers began to appear in the United States and some European countries,which provide online investment advisory services based on the Internet and make profits by charging for services.According to public data,the business size of smart investment advisers has exceeded $50 billion by 2015 and is likely to break the $2 trillion mark this year.After the introduction of intelligent investment adviser in China,the business has developed rapidly in China According to the research reports of relevant research institutions,the scale of intelligent investment adviser business in China may exceed 5 trillion yuan this year,and its development momentum will further expandHowever,it is worth noting that at present,there are no perfect regulations on the legal definition,risk sources and regulatory measures of intelligent investment advisors.it can be said that the development of law has lagged far behind the actual demand.Therefore,it is urgent to adjust and update the law.This paper mainly has three parts in the research,which are the introduction,the text and the conclusion,and the body part is divided into four chaptersThe first chapter generally puts forward the importance of the legal definition and supervision of the intelligent investment adviser,taking the definition of the intelligent investment adviser as the starting point,the legal definition of the intelligent investment adviser as the continuation,and the initial understanding of the intelligent investment adviser.Then it leads to the significance of its supervision by clarifying the related risks of intelligent investment advisers and the importance of investor protection.On the basis of the previous understanding,the second chapter describes in detail the development and regulatory problems of intelligent investment advisers in our country.By combing the operation mode of the intelligent investment adviser in the current market of our country,this chapter understands the localization process of the intelligent investment adviser,and then analyzes the problems existing in the supervision level after the localization of the intelligent investment advisor.it lays the foundation for drawing out the overseas supervision experience and constructing the supervision system of our country.The third chapter introduces the regulatory measures and experience of the United States and Australia.The United States mainly supervises intelligent investment advisers by establishing an information disclosure system,while Australia gives full play to the positive advantages of the government to guide the development of intelligent investment advisory platform.policy-oriented,comprehensively protect the investment rights and interests of investors.The fourth chapter puts forward some opinions and suggestions on the supervision of intelligent investment advisers in China,from the urgent need to amend the legal provisions to the establishment of regulatory framework and regulatory institutions,while focusing on protecting the interests of investors.clarify the relevant fiduciary obligations,improve the information disclosure system,and properly introduce regulatory science and technology to carry out financial supervision reform pilot,try to build China's intelligent investment consultant supervision system.