猫虎之辨:互联网金融平台定位的信息中介与信用中介之争

Kitten or Tiger:The Debate between Credit Intermediary and Information Intermediary of Internet Financial Platform Positioning Alienation

信息中介是监管政策对互联网金融平台的基本定位,司法实践因循政策定位以居间合同调整互联网金融纠纷。然而,互联网金融平台贷款审核、刚性兑付、增信担保等经营活动的信用中介本质,却是对上述定位的异化。司法裁判对政策导向的路径依赖,使裁判公信力受到减损。司法判例确立的居间人定位,在鼓励创新阶段,使互联网金融平台实质主导交易过程,而无需承担责任;严格监管时期,又无法对其恪以相应义务,整肃行业风气。互联网金融裁判回归金融商法逻辑,以商法思维审视新型案件,明确互联网金融平台的金融机构主体地位,才能为此类案件的裁判确立公允的基础。实现投融资双方的利益平衡,将互联网金融纳入规范监管,才能落实双创政策践行普惠金融的目标。

Information intermediary is the basic positioning of internet financial platform by regulatory policy.Judicial practice following the policy positioning,judge the internet financial disputes case as brokerage contract.But the nature of practical businessof internet financial platform is credit intermediary,such as loan review,rigid cash,credit guarantee.This is the alienation of theabove policy positioning.The judicial adjudication strictly follows the regulation policy,will generate path dependence problemand reduce its credibility.The position of intermediary established by judicial precedent faced difficulties:at the stage of encouraging financial innovation,the internet financial platform will essentially dominate the transaction process without assuming responsibility;in the period of strict regulation,it is difficult to impose the internet financial platforms to assume strict responsibilities.Only by returning to the logic of financial commercial law,reviewing new cases with commercial thinking,and clarifying the Internet financial platforms institutional status as financial institutions,will establish a stable basis for the adjudication of internet financial cases.Truly realizing the balance of interests of both sides of the financing,and bring internet finance institutions into formal financial regulation,will achieve the goal of Inclusive finance by the mass entrepreneurship and innovation policy.