Legal System Of Our Country Financial Supervision Sandbox Construction Path Study

While post-modern financial technology innovation has injected new vitality into financial development,it has also triggered more hidden and changeable financial risks.How to reserve sufficient development space for financial innovation on the premise of keeping the bottom line of financial risks has become an important issue facing financial management in all countries.For this reason,a financial regulatory sandbox legal system based on ex-ante regulation,differentiated regulation,and flexible regulation came into being.The financial regulatory sandbox legal system has improved the efficiency of financial innovation products,brought financial regulatory agencies the decision-making basis needed for supervision,and achieved the win-win goal of promoting innovation and controlling risks.Since the UK took the lead in launching the financial regulatory sandbox in November 2015,many countries and regions have successively introduced the financial regulatory sandbox model.At present,under the impact of the wave of post-modern financial technology,my country has also exposed the institutional dilemma of insufficient response from the financial regulatory system and the urgent need to update the regulatory model.To this end,my country has begun to join in the research and introduction of the financial regulatory sandbox legal system.Considering my country’s vast territory and the differences in financial development levels among different regions,it is difficult to formulate and implement a large-scale innovative financial regulatory system.Therefore,my country’s financial regulatory sandbox practice is carried out in the form of pilots in the early stage After accumulating a certain amount of regulatory experience,the financial regulatory sandbox legal system will be fully implemented nationwide.In recent years,many cities and regions in my country have successively carried out financial regulatory sandbox pilot work.The successful practice of the pilot program has broadened the testing space for financial innovation products and promoted high-quality financial innovation to empower the real economy.However,in practice,the pilot project also exposed problems such as imperfect sandbox supervision system,unclear supervision basis,lack of operation mechanism and related supporting measures.Therefore,this article is guided by the problems existing in the pilot,combined with the experience and enlightenment of the financial regulatory sandbox legal system outside the region,and then puts forward the construction path of my country’s comprehensive implementation of the financial regulatory sandbox legal system.Specifically,this paper consists of five parts,the specific contents are as follows:The first part is the introduction,which analyzes the research background,theoretical significance and practical significance of the financial regulatory sandbox,summarizes the research status of the financial regulatory sandbox at home and abroad,and discusses the research methods and innovations of this paper.The second part is the basic theory of the financial regulatory sandbox legal system.This part discusses the concept,main content and characteristics of the financial regulatory sandbox system,summarizes the functional value of the financial regulatory sandbox legal system,demonstrates the legitimacy of the financial regulatory sandbox legal system,and proposes that my country should build a financial regulatory sandbox law System,enhance the benign interaction between financial regulatory agencies and financial innovation subjects,reduce the cost of financial innovation supervision,and change the paradigm of financial consumer protection.The third part is the practical analysis of my country’s financial supervision sandbox pilot.This part takes my country’s financial supervision sandbox pilot as the research object,and expounds the practice of my country’s financial supervision sandbox pilot from the five aspects of pilot implementation area,pilot supervision subject,pilot application subject,pilot supervision basis,and pilot supervision process.status quo.At the same time,it also analyzes many problems in the supervision system,operation mechanism and related supporting systems of the financial supervision sandbox pilot.In the future,the optimization direction of my country’s regulatory sandbox pilot should be based on the national conditions of the country,and build a legal system for financial regulatory sandboxes in the Chinese context.The fourth part is the experience and enlightenment of the sandbox legal system of foreign financial supervision.This part analyzes the constituent elements and operation process of the sandbox legal system of financial supervision outside the territory,and summarizes four enlightenments for the construction of the sandbox legal system of financial supervision in my country: First,a clear regulatory basis has been formulated and a sound regulatory system has been established;The second is to promote financial innovation and prevent risks;the third is to establish a sound information disclosure and exchange system;the fourth is to pay attention to the protection of the rights and interests of sandbox consumers.The fifth part is the path to construct my country’s financial regulatory sandbox legal system.This part is guided by the problems existing in the pilot of my country’s financial supervision sandbox,based on its own national conditions,drawing on the implementation experience of the financial supervision sandbox legal system in foreign countries,and proposes to build a financial supervision legal system in the Chinese context on the basis of the existing financial supervision legal system.Financial Regulatory Sandbox Legal System.The specific path is as follows: one is to clarify the regulatory framework of my country’s financial regulatory sandbox legal system,cultivate new regulatory concepts,determine a unified sandbox regulatory authority,and formulate financial regulatory sandbox regulations;the second is to standardize financial regulatory sandbox laws The operation process of the system,refine the access criteria of the sandbox,improve the testing process of the sandbox,and clarify the exit mechanism of the sandbox;the third is to improve the supporting measures of the legal system of the financial regulatory sandbox,and improve the information disclosure measures in the sandbox.Improve consumer protection measures within the sandbox.Ultimately,the financial regulatory sandbox system will operate in compliance within the framework of the rule of law in my country,and promote the healthy and orderly development of my country’s financial innovation industry.