Internet finance "top level Design" will be introduced

The guidance on promoting the sound development of internet finance is expected to be published in the near future.

Recently, according to people close to the central bank to the "First financial daily" reporter said: "On the promotion of the Internet financial health Guidance," (hereinafter referred to as the "guidance") has been reported to the State Council for some time, it might be announced one day. He said the directive would be "published" earlier than the Internet Finance Association and could be enacted at any time.

Earlier, Mu Huibung, director of the Central Bank Law Division, has said publicly that the central bank is working with relevant departments to step up the "guidance", which, as "top design", will become the institutional foundation of China's Internet financial regulatory system.

According to the above sources, the specific department of Internet finance and the outside world is basically consistent with rumors: the central bank responsible for third-party payments and Internet Financial Association supervision, the CBRC is responsible for peer-to-peer industry supervision, the SFC is responsible for the supervision of the public.

Peer-to-peer industry related people to the "First financial daily" reporter said that in mid-July, the central bank convened a number of Internet financial companies to meet, on the outstanding "guidance" to communicate, including its representative enterprises attended the meeting.

According to the spread of the "guidance" has completed the policy formulation, is awaiting the release time. October 20, Guangdong Internet Finance Association president Yous revealed that before the end of the year, the central bank will formally promulgate the guidance opinion. The directive, it was said, would be a general constraint and guideline on the brutal growth of internet finance over the past two years. In some areas of disorder and chaos will be improved, internet finance will return to the track of reasonable norms.

The law division led the preparation

The Internet Finance Association is still in the preparatory stage of the Promoter. Those close to the central bank said to the first financial daily that the Internet Finance Association may not be tenable during the year. Unlike the Internet Finance Professional Committee, which has been established as the lead of the Clearing Society (hereinafter referred to as the "Special Commission"), the Internet Finance Association, which is being prepared, is led by the Central Bank Law Division.

Those close to the central bank said to the first financial daily that the establishment of the Internet Finance Association is a two-stage process: first, to open the sponsor meeting, the initiator of the sponsors of the agreement signed and stamped. The agreement required the preparation of 8 materials, reported to the Ministry of Civil Affairs, the Ministry of Civil Affairs after the approval of the 6-month preparatory period; After the meeting, it means the adoption of a resolution declaring the establishment of an association.

The Internet Finance Association is still in its first phase, the people said. "The number of members will generally be greater than the number of sponsors meeting, and will absorb new members." ”

As early as June this year, the Financial Research Bureau of the People's Bank of China, Chang Yu-li, said to the first financial daily Reporter: "The Central Bank Law Division set up the Internet Financial Association has been approved by the Ministry of Civil Affairs, will soon be established." The establishment of trade associations for self-regulation is the first step in the regulatory process, followed by the association will lead the industry guidance. ”

Yu Li revealed that the central bank under the Internet Financial Association, the Law Division is the industry supervision and regulation of the study, the central bank will introduce a general policy on the Internet finance Guide norms.

How the Association and the Committee oversee the division of labour

Those close to the central bank said: "The Pay and clearing Association regulation mainly includes third-party payments, banks, finance companies this piece of self-discipline, we set up the Internet Finance Committee, but also for research purposes, the establishment of a number of self-regulatory payment management system." First of all, we also have to respect the State Council, the People's Bank and the CBRC and other relevant policies, on this basis, will establish some industry self-discipline supplement and market spontaneous rules. ”

The person said that at present, the central bank's pay clearing association to set up a special committee to the main self-discipline, "self-discipline is mainly to make policy refinement, transformation, more pioneering, in order to better suit the enterprise rules." Before the policy is enacted, we may be bound by some self-discipline, to a certain extent to rise into the industry system. ”

After the establishment of the Internet Finance Association and the IPCC conflict, the person said that the central bank will harmonize the relationship between the two, and said that currently more than 90 members of the IPCC, the future will further expand the absorption of new members.

The Internet Finance Association to be prepared will include banks, securities, insurance, funds, Peer-to-peer and a number of platforms, whose promoters are slightly different from members of the IPCC.

Peer-to-peer needs to be regulated

Referring to regulatory details, the people said that the previously established IPCC had not absorbed new peer-to-peer institutions because the threshold could increase the value of Peer-to-peer platforms. The Commission's sponsors include 10 peer-to-peer platforms, so far the IPCC has not yet attracted new peer-to-peer platforms.

In his view, Peer-to-peer industry's hidden threshold is actually higher. At present, the country has more than 1300 peer-to-peer institutions, "a year of the establishment of the IPCC, in the Special Committee to do the registration of information only more than 100 platforms." "In his view, we should take a correct view of the Peer-to-peer industry shuffle, and establish a regulatory system as soon as possible."

Yesterday, Fu Hua holding executive president and full financial credit CEO Fei to the "First financial daily" reporter said that peer-to-peer industry as just emerging industry, urgent need to strengthen supervision, "in any industry has just arisen is a mixed bag, lack of supervision, peer-to-peer industry welcomes regulation." As the industry matures, the untrusted Peer-to-peer platform will be phased out. After a baptism, the industry will go to the formal development path. ”

Fei said that the core and essence of Internet finance remain financial, no matter how the development can not be separated from the necessary supervision and the traditional financial institutions similar to risk control, risk measurement. At the same time, the most inseparable is still every financial services institutions should be a fear of risk.

(Responsible editor: Lvguang)