The Research On The Legal Path Of Internet Banking Supervision In China

In September 2014,the China Banking Regulatory Commission announced the first batch of 5 pilot private banks,Qianhai WeBank and Commercial Bank of Zhejiang MyBank are put forward the new business model in the form of a netwinrk to individual customers and medium-sized and enterprises,and this marks the production of China’s internet banking.In June 2016,then the third Internet Bank that is also the first in the Midwest-Sichuan XW bank also authorized by the CBRC,which shows the profound change in our traditional financial institutions.At the same time,the emergence of Internet banking break the Pareto principle of the financial sector,serve for the public customers and medium-sized enterprises actively,and meet almost 80% the needs of the long tail user.However,this new financial form that takes the internet banking as a representative,impact on China’s current pattern of separate supervision.From the practice of other countries,there are three modes according to the supervision subject,one is the financial supervision mode,which takes the current financial supervision system in China as a typical representative;twin is a comprehensive regulatory model,such as Germany,Japan,Russia;finally,the twin peaks supervision mode,such as Australia,Holland,and the British after April 2013.The 13 th Five-Year Plan clearly puts forward the reform of financial supervision system should be based on international experience.In June 24,2016,the National financial and development laboratory released "the report of China financial supervision(2016)”,which first put forward the "three layer and twin peaks" mode.At the same time,the seminar on innovation and financial regulation held in Shanghai in September 17,2016,and the establishment of the joint meeting of the comprehensive financial supervision in Shanghai,and establish a joint meeting of financial supervision in here.This meeting has played the role of the demonstration in the country,opened the innovation model of Internet banking supervision.What kind of regulatory path should the internet banking choose? Maybe it is very important for Internet and even for the financial institutions of the financial.This paper is divided into six parts in addition to the introduction and conclusion.The first part introduces the Internet banking and its potential risks.It includes three parts: the definition and types of Internet banking;the development of China’s Internet banking;and the potential risks of Internet banking in china.The second part is the current situation and particularity of Internet banking supervision.Firstly,it analyzes China’s current situation of internet banking supervision from the aspects of its legal system,behavioral regulation and the rights of financial consumers;and then analysis the particularity of China’s Internet banking from five aspects: the lack of perfect credit system,the difficulty of risk prevention,lack of supervision mode,and imperfect international banking supervision,the limit of the traditional financial supervision mode.In order to explore the regulatory path of China’s internet banking,the next three parts compared and analyzed the advantages and disadvantages of three different supervision modes: the separate supervision mode,the comprehensive supervision mode,and twin peaks supervision mode from the financial regulatory legal system,regulatory objectives,regulatory agencies,regulatory methods,regulatory content,regulatory scope and so on.The sixth part is suggestions for the Internet banking supervision.This part holds the specific countermeasures and suggestions for the China’s internet banking supervision from four aspects: to study the twin peak supervision,to improve the legal supervision system,to improve the national credit system,and to improve the financial consumer protection system.