| With the rapid development of Internet finance,traditional financial institutions follow the trend of The Times and carry out online business activities one after another to accelerate the integration with the Internet.Internet enterprises of non-financial institutions also gradually enter the financial field,presenting different business forms.The concept of the Internet is sharing and participation,which has incomparable advantages in the acquisition and analysis of big data.However,finance is a way to rationalize the allocation of resources.The integration of Internet and finance effectively reduces the degree of information asymmetry and enables the optimal allocation of resources.Therefore,as an innovative form of finance,Internet finance has added vitality to China’s economic development and promoted the reform of the financial industry.Internet finance has the characteristics of inclusive,mixed and virtual.Compared with traditional finance,it has great advantages in both the number of customers and transaction scale.It covers the long tail group excluded from traditional finance,and carries out trading activities through information technology,which is convenient and efficient.But at the same time,the higher the risk coefficient is,it has both the Internet and financial risks,once the risk point is reached,it is easy to lead to the occurrence of systemic risks,such as P2 P platform large-scale collapse escape event caused a great impact on the entire financial industry.Therefore,the government departments attach great importance to the supervision of Internet finance and write it into the government work report for four consecutive years.At the same time,relevant policy documents have been issued to regulate,such as "payment institutions Internet payment business management measures","securities investment fund sales management measures" and "electronic banking business management measures",etc.,to make strict provisions on the relevant business.In 2015,the central bank and other ten departments issued the guideline on promoting the healthy development of Internet finance.According to the principle of "supervision according to law,appropriate supervision,classified supervision,coordinated supervision and innovative supervision",the guideline divided the related work of Internet finance and implemented the supervision responsibilities.China’s regulatory attitude towards Internet finance has changed from encouraging development to regulating development and then to the current strict regulation,and the prevention and control of Internet financial risks has become the main tone of the work.Therefore,aiming at the present stage our country traditional supervised respectively model difficult to adapt to financial development of the Internet,it is necessary to reform the existing regulatory model,a clear division of business boundary and its function of regulator,strengthen the supervision of collaboration and perfect the system of the Internet financial laws and regulations and related supporting system construction,reduce financial risk,to promote stable economic development.This paper consists of five parts.The first part is the introduction of the paper,focusing on the background of the topic,the significance of the topic,as well as the research status of Internet financial supervision at home and abroad,and the paper’s research methods,research ideas and innovation points are described.The second part is the overview of Internet financial regulation.Firstly,it defines the Internet finance,including the concept,the main mode and the difference with the traditional finance.Secondly,it introduces its unique risk characteristics in detail,that is,the increase of credit risk,the risk of connected transaction,the risk of lack of transparency and technical risk.On this basis,this paper proposes the necessity of supervision from three aspects: reducing the irrational behavior of investors,protecting the rights and interests of financial consumers and preventing the occurrence of systemic risks.The third part elaborates the current regulatory status of China’s Internet finance,and analyzes the difficulties in the regulatory process,that is,the lack of targeted legislation at the legislative level;In the supervision system,the current supervision system in China is not coordinated,there are gaps or overlapping phenomenon of supervision;In terms of regulatory measures,the existing regulatory means are difficult to adapt to the needs of industry development.The fourth part is the analysis of foreign countries’ Internet financial supervision practices and the enlightenment to China.It includes: firstly,we should perfect the relevant regulatory legal system at the legal level to ensure that there are laws to be followed;Second,reform the existing regulatory system and strengthen the communication and collaboration between regulators;Finally,an Internet finance industry self-discipline association should be established to give full play to its role.The fifth part is the suggestion to our country Internet finance legal supervision system construction.Including: supervision idea,supervision principle and concrete supervision measure three levels.First,three regulatory concepts should be established to adapt to the characteristics of the development of Internet finance,prevent systemic risks and protect the rights and interests of consumers.Secondly,we should adhere to the principles of moderate supervision,coordinated supervision and consistent regulation.Finally,combined with the current regulatory situation in China,specific measures to improve,mainly the selection of regulatory model and the construction of Internet financial regulatory system. |
