作者：冯辉
作者介绍：对外经济贸易大学法学院副教授，博士生导师
出版日期：2017年12月9日
内容提要 在混业金融背景下,网络借贷平台不宜被强制分割和限定为信息中介与小额贷款机构。管控型的监管模式不仅滞后于社会对平台监管的需求,也损害了网络借贷产业的发展和监管的公信力。为了实现与产业发展、社会整体利益维护之间的平衡,网络借贷平台的法律监管应当从以下方面进行完善:在监管理念上,推动监管成为内生因素,以公共产品供给为理念变革网络借贷平台法律监管的核心规则;在监管策略上,调整既有的风险隔离策略,以功能主义与类型化为导向开放平台的中介类、增信类、借贷及衍生类业务,构建一体化的网络借贷平台监管规则;在风险控制上,事前准入应引入产业发展、市场竞争与准入公平等考量,事中监测应通过穿透式监管识别业务属性并导入相应的指标体系;在信息监管上,强化信用评级、信息披露等信息性监管和投资者教育等公共信息服务;在风险分担上,加强投资者权益救济,完善风险基金、责任保险等风险分担机制的建设。
关键词 网络借贷平台 公共产品型监管 类型化监管 穿透式监管 混业金融
Abstract: In the context of mixed finance, it is not reasonable to forcibly divide and limit the online lending platforms into information intermediaries and micro finance institutions. The regulatory model is not only lagging behind the needs of the community on the platforms, but also undermines the credibility of the supervision and the development of the online lending industry. We should promote the regulation into endogenous factors and utilize the idea of public goods supply to innovate the basic model and the core rules of the legal supervisions upon the online lending platforms. First of all, we should adjust the existing risk isolation strategy, to permit platforms to enforce businesses including intermediary, credit, lending and derivative ones under the orientation of functionalism and categorization, and to build integrated online lending platform regulatory rules. Moreover, as to the risk control, the access rules should be the introduction of several considerations including industrial development, market competition and tair access, while the monitoring rules should be through the penetration of business to identity business attributes and import the appropriate index system. Finally, we should strengthen the supervision concentrating on information including credit rating and information disclosure, strengthen investor education and other public information services, while strengthening investor interest's relief, improving the risk fund, liability insurance and other risk sharing mechanisms so as to achieve the balance between the supervision, the industrial development, and the overall interests of the society.