Research On Internet Financial Supervision From The Perspective Of Financial Consumer Protection

As an innovative integration of traditional finance and emerging Internet information technology,Internet finance has improved the efficiency of financial resource allocation and is a major innovation in China’s financial field.At the same time,the complexity of Internet financial products and the particularity of the industry make Internet financial consumers’ vulnerable position prominent,and the vicious events that infringe on the rights and interests of consumers are not forbidden repeatedly.Meanwhile,the vicious competition of Internet financial market is prone to cause financial risks,which is not conducive to the stability of economic society.However,there are certain problems in China’s current regulatory system and model,and the relevant legislation is lagging behind.Therefore,relevant regulatory authorities are required to start from the protection of financial consumers’ rights and interests,and build a new model of Internet financial supervision that focuses on consumer protection.Guaranteeing the legitimate rights and interests of Internet financial consumers and further preventing and resolving Internet financial risks have become important issues to be solved urgently.Therefore,this article specifically discusses the Internet financial supervision from the perspective of Internet financial consumer protection.It is mainly divided into the following parts:The first part introduces the research background and significance of this paper,and sorts out and summarizes the relevant literature on Internet finance at home and abroad.The second part discusses the concepts and models of Internet finance,the definition of Internet financial consumers,and the relevant theories that support the supervision of Internet financial consumer protection.The third part introduces the necessity of implementing Internet financial supervision with consumer protection as the core,from which we can also see the shortcomings of China’s Internet financial supervision from the perspective of financial consumer protection.The fourth part mainly explores the problems existing in Internet financial supervision from the perspective of financial consumer protection,and further analyzes how these problems cause damage to the rights and interests of Internet financial consumers.The reasons correspond to the problems and are more targeted,so as to provide a clear path for the final improvement of Internet financial consumer protection supervision.The fifth part reviews the process of Ant Group’s suspension of listing,and analyzes the reasons for its suspension of listing and its significance to the supervision of Internet financial consumer protection.The sixth part introduces the advanced policies of the United States and the United Kingdom in terms of legislation,supervision mode and financial consumer dispute handling in Internet financial supervision,and how to draw lessons from them in China.The seventh part puts forward the concrete measures of constructing the new mode of Internet financial supervision which mainly focuses on consumer protection in China.First,at the legislative level,the Internet financial consumer protection supervision is required to follow the principle of inclination and appropriateness and to improve the legal system of Internet financial supervision;Second,at the regulatory level,it is proposed to combine institutional supervision with functional supervision and rely on regulatory technology to achieve the whole process.Supervise and improve the multi-level online settlement system for Internet financial consumer disputes;Third,in terms of financial institution behavior,it proposes to strengthen the information disclosure supervision system,improve the Internet fund custody system,and improve the Internet financial credit system;Fourth,on the consumer level of Internet finance,it is necessary to establish the Internet financial safety education and supervision system.