Study On The Principle Of Financial Regulatory Adaptability

Although a country’s financial regulatory structure and the focus of financial regulation are closely related to its culture,history and laws,they are more directly related to the structure of its own financial markets and the pattern of financial transactions.Theoretically and practically,financial regulation is the abbreviation of financial supervision and financial regulation,The State-owned Assets Supervision and Administration Commission believes that supervision is supervision and administration;while the China Securities Regulatory Commission and the China Banking and Insurance Regulatory Commission believe that supervision is regulatory,including supervision and regulation.It can be said that the current era has entered the era of regulating the state,that is,the government’s public management has penetrated into all aspects of society.After the 2008 financial crisis,the adjustment of the regulatory system and mechanism and the rapid development of financial technology have led to the concept,institutional framework,instruments and mechanisms of adaptive financial regulation becoming the inherent demand of financial regulation nowadays.Especially after the global outbreak of the new crown epidemic,major countries and regions have coincidentally chosen to deregulate finance in order to recover their economies,and the cycle of "crisis-regulation-innovation-deregulation-crisis again" seems to be returning again.In such a situation,we need to try to find a new regulatory principles that is forward-looking and dynamic in terms of concept,instruments and mechanisms,so as to adapt to the current stage and even the possible future financial changes.The "Principle of Financial Supervision Adaptability" resolves the triadic dilemma of financial supervision by maintaining synchronization and coordination between supervisors and regulated objects: the dilemma between limited regulatory resources and diverse objectives,and standard interpretation in principled and rule-based supervision The dilemma between intrusive and light-touch regulatory cycles.The principle of financial supervision adaptability is manifested in the concept of proactive supervision based on forward-looking and comprehensiveness;it cooperates with other principles and allocates supervision resources in a risk-oriented manner;in terms of supervision methods,it widely adopts supervision technology methods that coordinate with financial technology.;In the supervision mechanism,the "supervision sandbox" and "living will" and other mechanisms for the benign interaction between the supervisor and the supervised object are adopted.