Research On The Legal Regulation Of Robo-advisor

In the continuous development of fintech,the traditional investment consulting business is quite different from the past.Intelligent investment advisors have been recognized by most people by virtue of artificial intelligence and big data and cloud computing operations,and they have developed rapidly in China.Due to its low cost,stable income,and popularization,intelligent investment advisors can enable ordinary investors to obtain wealth management services that only high-net-worth individuals can enjoy in the traditional financial investment advisor era with very low funding thresholds and rates,making “inclusive finance "The idea has come true.But at the same time,because it has no clear legal definition in China,there are many problems in the development of intelligent investment advisors,and there are many “pseudo-intelligent investment advisors” in the financial market.Intelligent investment advisory is different from the traditional investment consulting business in the past.Under the current laws and regulations of China,the development of its business is likely to cause legal obstacles.At the same time,the industry's innovation and technical expertise also bring current regulatory systems A series of challenges.Therefore,when developing an intelligent investment advisory business,we must carefully consider the legal risks that exist.While using its advantages,we must also use a series of supervision,such as functional supervision,license-based supervision,and increase information disclosure requirements.It operates to the extent permitted by law.This article discusses the legal regulation of intelligent investment advisory from three aspects.First,by introducing the background of intelligent investment advisory and its definition abroad,combining the relevant situation in China,the connotation of intelligent investment advisory is defined,and the legal analysis of it The need for regulation.Secondly,by analyzing the development status of China's intelligent investment advisory,it is pointed out that the current intelligent investment advisory in China has difficulties in market access due to the shortage of licenses and the prohibition of discretionary commissions,and faces legal obstacles.At the same time,the industry's innovation,The professionalism of technology and the risks of algorithms all bring certain challenges to the legal regulations of intelligent investment advisors.Regarding the challenges and risks brought by intelligent investment advisory,the third part of the article combines the experience of foreign regulatory agencies in the intelligent investment advisory regulation,and in view of the current development dilemma of intelligent investment advisory in China,it proposes that it is possible to improve the license system and open asset management.To solve the market access dilemma of intelligent investment advisory from the perspective of business;at the same time,to strengthen the algorithmic regulation of intelligent investment advisory,such as the disclosure of algorithm information and the establishment of internal management systems;and to improve the supervision by introducing the supervision sandbox,technology supervision,and establishment of penetrating supervision Means and strengthen investor protection,improve the legal regulations of China's intelligent investment advisory,with a view to promoting its prosperity and development,so that the legitimate rights and interests of investors can be optimally protected.