Research On Legal Questions About Peer-to-Peer Lending Platform Supervision

P2P lending develops on the basis of private lending,its trading process via the Internet information technology provides great convenience than before.In 2007,China established the first P2P lending platform,and China has more than 4000 platform now,so it becomes an important part of folk finance.The development of P2P lending platform is rapid,but it also comes with a lot of problems,and this attracts great concern in society.Because of the uncertain legal status,and P2P lending platform has not been properly regulated for many years,many of its behavior is difficult to get regulation.P2P lending is a financial innovation.After 8 years’ development,the P2P lending platform still exists some problems on the regulation.From a theoretical level,the information asymmetry in P2P lending is easy to arouse moral risks and credit risks,so the regulators need to monitor P2P platform.But considering that P2P lending platform should meet the needs of innovation,regulators should choose different management methods.From a practical level,insufficient supervision is the problem.It is lack of legal regulation and regulatory enforcement.The P2P lending has appeared many problems since 2015.The number of problem platform has risen sharply,especially large-scale platform was investigated,which has serious impact on the industry.The first problem is the pool.It’s closely related to the creditor’s rights transfer mode and the melt,because P2P lending platform is directly involved in lending transactions and may actually control the investors’ money.Its harmfulness and illegality is obvious,but most of the P2P lending platform has its own pool.The pool violates the provisions of the criminal law,but we need to pay attention to the criminal law applicable limits.Comparing British and American P2P lending platform development,they use the system design to prevent pools.The second is the guarantee.Due to long-term "rigid redemption" thought and the imperfect credit system in our country,some investors prefer guaranteed finance.In order to meet the needs of investors,P2P lending platform created guarantee mode,including platform guarantee and third-party guarantee.There are special laws and regulations to regulate the behavior of guarantee,but illegal guarantee phenomenon is still serious.Because regulators for a long time has not been determined.The last one is information disclosure problem.Information is important for P2P lending,but there is no information disclosure standards,so there are some problems,such as information disclosure is not in a timely manner,etc.Britain also had the same problem of information disclosure,government formulates special information disclosure system to solve the problem.While the United States attaches great importance to the problem,regulators require P2P lending platform for information disclosure.P2P lending platform has a lot of serious problems,so the government should regulate timely.On the one hand,regulators need to guide and standardize the existing platform,and regulators need to solve the issue of pool and guarantee,and make standard of information disclosure.Regulators also need to help P2P lending platform who can’t operate out of business.On the other hand,by learning the experience of Britain’s regulation,our regulators should formulate special law to regulate.And based on the experience of the American regulatory fragmentation regulators also need to strengthen cooperation,in order to improve the efficiency of supervision.In addition,P2P lending is inclusive finance,and it also has strong innovation needs.It can’t be regulated very strictly,so regulators should adhere to the principle of moderation.