Research On The Legal Supervision System Of P2P Lending Industry

P2P lending is based on the Internet technology, with the P2P platform as its core. With the development of P2P lending in China, this effective way makes it possible to realize not only the information sharing and exchanging, but also the flow of money between unknown borrowers. What’s more, it has eased the problem of lending for plenty of medium small and micro-sized enterprises and personal finance, which provides investors with a novel pattern of investment. However, the rapid expansion of P2P lending also causes some negative impacts, namely, the risk of illegal fund raising, the risk of money laundering and the capital risk caused by the distemperedness of credit system etc. For the better and healthier development of P2P industry and the realization of function of financial inclusion, the financial regulator should be available to do well in its daily supervision work which is based on the improvement of the Internet financial supervision and management legal system, offering the reasonable and effective guidance and supervision to this field.This thesis consists of three main parts:the introduction, the body and the conclusion. And the body will be introduced by the following four chapters:Chapter one gives an overview of P2P lending industry. The core idea of point-to-point interaction of P2P lending will be focused on, which is vital to give following analysis on legal nature, the risks and the surveillance of the P2P platform. In addition, it will focus on the analysis of the value of P2P lending followed by the literature review of the P2P lending development at home and abroad with the analysis of negative effects during its development.Chapter two dissects the principals or subjects in P2P lending. As for the lender and the borrower, the analysis on their subject qualification as well as the application of "caveat emptor" principle on the lender. And the main focus of the nature of P2P lending platform will be analyzed via the comparison between the theory of quasi-financial institutions and the lending service mediator. Finally, the thesis will analyze the four operating models of the core-P2P platform by the elaborations of the subject legal relations in different models which scaffolds the theory for the risk analysis and regulatory advice in following chapter.Chapter three makes an analysis on the different risks caused by the three different factors, namely, the lender, the borrower and the P2P lending platform from the perspective of subjects mentioned in chapter two. After that this thesis will be based on the current conditions of laws and regulations to illustrate the regulatory status of these three subjects.Chapter four focuses on the improvement of the supervisory system in domestic P2P lending industry. It demonstrates and analyses the foreign supervisory systems like America and England. And according to current surveillance in China which has been mentioned in previous chapter, the thesis puts forward some principled suggestions to improve domestic P2P lending supervisory system. Meanwhile, the thesis will propose the specific suggestions to improve the framework of domestic P2P lending supervisory system based on the current risks and regulatory conditions in three main aspects including clarifying the supervision identity, improving the supervisory system in Internet lending area and raising up the reliability of the credit rating of the P2P platform users.