Legal Regulatory To Mutual Fund Sales On The Internet

Mutual fund sales on the Internet refers to the behavior of sale mutual fund through Internet, and the article mainly analysis the situation of cooperative marketing mutual fund by mutual fund sales institution and Internet platform, mainly use Yu’ebao for example. As a fund innovative sales model, appeared by controversy. With the rapid expansion of the scale, the voice of strengthen the supervision has been strengthened. In order to regulate financial innovation, safeguard the legitimate rights and interests of investors, the article attempts to solve the problems which make mutual fund sales on the Internet go further in legal compliance.The article is divided into four chapters. The first chapter is an overview of mutual fund sales on the Internet. The first section introduces the definition of relative concepts. The second section introduces the characteristics and the significance, the characteristics includes high‐yield, high liquidity, low threshold. The significance includes improving the utilization of idle funds of the society, to broaden the fund sales channels. The third section analyzes the mode, mainly for analysis of the Yu’ebao. This section includes the overview of Yu’ebao, its main structure and business process. The fourth section is the definition of legal regulation, including the concept and the factors.The second chapter analyzes the necessity of legal regulation of mutual fund sales on the Internet, mainly from three aspects. The first section is the ambiguous legal status of the Internet platform. The second section is the normative insufficient of the marketing campaign of the mutual fund sales. The third section is the urgent need to strengthen the trading risk of the mutual fund sales.The third chapter is the comparison of the legal regulation of the mutual fund sales on the Internet. The first section describes the legal regulation of the mutual fund sales in the United States. The second section describes the domestic practice, including the analysis of the regulatory system and the current situation.The fourth chapter is the idea of improving the legal regulation of the mutual fund sales on the Internet. The first section is the factor of the regulation, including four aspects. The first is the concept of regulation, that is establishing the principle of the mutual fund sales on the Internet, including the principle of giving priority to efficiency, encouraging innovation and functional regulatory. The second is the base of regulation, namely development of special provisions of the mutual fund sales on the Internet. The third is the regulatory target, namely a clear legal status of Internet platforms. The fourth is the supervisory agency, namely rationalizing the regulatory system as the center of SEC. The second section is the monitoring mechanisms, namely to further improve the normalization of the market, including improving market access mechanism, strengthening risk management mechanism and increasing regulatory enforcement.