| P2P online lending is a new financing mode with the development of Internet technology.In 2005 both Britain and America saw the emergence of new lending models that let borrowers and lenders strike deals on their own using online platforms.This new business model developed rapidly,It was introduced to China in 2007,which led to the boom of P2 P online lending platforms in China.However,the abnormal development of P2 P lending platforms in China today--illegal fund raising,runaway loan,and failure to repay due to poor management--has seriously infringed upon the legitimate rights and interests of online loan lenders,making the protection of their property rights and personal rights an urgent issue.Reflecting on the occurrence of a series of defaults or thunderstorms in the P2 P online lending market,the main victims of these vicious events are the lenders in the online lending market.Why the new and inclusive transaction mode of online lending is just developing in foreign countries,but it cannot work in China.In this context,this paper studies the legal status of lenders in online lending transactions,the practical dilemma of their rights protection and the design of rules through two dimensions in the field of law and economics,and tries to find a theoretical way to protect the rights of lenders in online lending transactions in China.Internet lending originated from muhammad yunus' s bank for the poor,and has rapidly developed into a branch of the emerging Internet finance on a global scale.The development in China is due to the oligomial financial restraint in China,as well as the market foundation for the investment and financing needs of the niche population and the awakening of the awareness of financial credit rights.The biggest characteristic of online loan transaction is to achieve agreement by relying on information completely.The basic logic of online loan transaction is to generate,promote and complete the whole transaction by relying on credit-trust-information.China's online loan transaction mode is mainly divided into pure information intermediary mode and compound intermediary platform.However,no matter what kind of transaction mode,determining the legal status of the main transaction subject is the basis of studying the protection system of lender's rights.For the operators of online loan platforms,considering the current market economic environment and market demand in China,the recognition and confirmation of the dual attributes of information intermediary and credit intermediary of the platform not only meets the needs of China's online loan market,but also ensures the realization of the basic rights of both sides in online loan transactions.The niche characteristics of both lenders and borrowers determine the degree to which they are protected as financial consumers.in addition to the basic loan loan contract legal relationship between the two sides and brokerage contract legal relationship,the net credit transaction particularity service contract from both sides of the platform and borrowing the appropriate extension of the agency appointment contract and admit the legality of the agent and legitimacy,and based on this,consider the lenders' rights protection as well as to the platform obligation to redefine the rules of the design.It is necessary to protect the rights of online lenders from the perspectives of law,economics and sociology.Protection of the rights of lenders from the civil law and economic law is to realize the principle of good faith and the principle of public interest needs,at the same time,the P2 P transaction information asymmetry under the credit system of our country cannot be corrected,P2 P loan deal with the risk of moral hazard and adverse selection cannot alleviate,investor's rational deviation has further exacerbated the transaction risk,making lenders' rights protection P2 P trading rules on the design of the most important one annulus.From the perspective of practice,the real dilemma faced by the protection of the rights of online loan lenders is mainly reflected in the severe test of the transaction security right,the right to know cannot be guaranteed in the whole transaction link,and even the financial privacy right in the personal right is also faced with the risk of infringement.Under the realistic dilemma that all kinds of rights may be infringed,the shortage of dispute resolution mechanism makes it impossible to guarantee and remedy the lender's rights after being damaged.Taking the protection of online loan lenders in the United Kingdom and the United States as a reference,various countries have different ways to protect the rights of lenders due to the online loan transaction mode and supervision mode.Britain has put more emphasis on credit examination,self-regulation and bottom line regulation,investor risk trading and diversified remedies for equity damages.The United States regulates in the form of securities,and theoretically lays more emphasis on the legislative idea of consumer sovereignty.It protects the rights of lenders by reducing transaction risks through perfect market credit investigation,information review,social platform and interest rate restriction.?In combination with the current situation of rights damage faced by China's online loan lenders and the advanced experience of the development of overseas online loan.The protection mechanism of lenders' rights in China should be put forward to protect lenders in accordance with China's national conditions.The first is to build a sound Internet financing credit investigation system,realize the effective connection between traditional credit investigation and the emerging market credit investigation,break the credit investigation island,and realize the information sharing mechanism.At the same time,the boundary between information control and financial privacy should be balanced.Secondly,the obligation of information disclosure should be strengthened to ensure the realization of lenders' right to know.Information disclosure is an important method to alleviate information asymmetry,information disclosure is to ensure the realization of lenders' right to know.Therefore,information disclosure rules should be designed from a good perspective of investors.Again,considering China's ordinary people contact investment time is shorter,the lack of sufficient risk prevention consciousness,therefore shall provide investors get the opportunity of education,fully safeguard investors' right to education of prevention function,make lenders set up the correct risk prevention consciousness,make lenders rational investment,to avoid fraud risk.Finally,it realizes the path choice of the self-discipline to effectively participate in the Internet financial governance,balances the relationship between the self-discipline organization,self-discipline members and the government,and realizes the self-governance and self-fulfillment of self-discipline members through the industry norms and self-discipline management.If the protection mechanism of rights is more for the purpose of preventing from failure,then if the rights of lenders are damaged,how to carry out post-relief is more concerned by the academic and practical circles.First of all,faced with the P2 P loan platform bad management through bankruptcy procedures to ensure that the majority of lenders to minimize the loss of rights of the scheme design.At the same time,from tort liability as the path to protect the lender's financial creditor's rights,take the duty of care of the high director as the identification standard of tort liability,and clarify the liability principle and liability distribution of the high director's tort liability.Finally,it is necessary to combine multiple dispute resolution mechanisms to enrich the choice of modes for the settlement of disputes encountered by trading subjects in China--to establish an internal dispute settlement mechanism and explore the characteristic commercial mediation system to provide more relief means for lenders.This paper tries to study the protection of rights of lenders in online loan transactions from the legal principle,meanwhile discusses the ways to protect the rights of lenders in online lending transactions,which provides a theoretical foundation for the establishment of rules and systems for protecting the rights of Chinese Internet financial consumers.It is expected to provide reference for the deepening of legal research on Internet finance and the innovation of legal concept in China. |
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