融资型民间借贷的刑法规制界限——从非法吸收公众存款罪切入

An Analysis of the Limits of Criminal Laws and Regulations for Financing Private Lending——From the crime of illegally absorbing public deposits

因为刑法规制界限模糊,作为民营经济主体主要融资渠道之一的融资型民间借贷,极易被认定为非法吸收公众存款罪。2019年1月,《关于办理非法集资刑事案件若干问题的意见》的出台标志着刑法规制出现了由严厉打击到逐步放宽的理念转变,由保护秩序到兼顾个人的目的转变。以此为契机,在缩小非法吸收公众存款罪打击范围的基调上,应当认为本罪的保护法益是金融管理秩序和投资者的资金安全。以扰乱了金融管理秩序为前提,在资金用途、风险提示义务以及网络中介平台三个具体场景中是否构成本罪,应当以是否对投资者资金安全造成了对巨大威胁为标准进行实质判断,并且进行具体的准则设计。

Because of the ambiguity of the criminal law system, financing private lending, which is one of the main financing channels of the private economy, is easily recognized as illegally absorbing public deposits. In January 2019, the promulgation of the "Opinions on Several Issues Concerning the Handling of Criminal Cases of Illegal Fund Raising" marked the transformation of the criminal law system from a severe blow to a gradual relaxation, from the protection of order to the consideration of individual. Taking this as an opportunity, on the basis of narrowing the scope of the crime of illegally absorbing public deposits, it should be considered that the legal protection of this crime is the financial management order and the financial security of investors. On the premise of disturbing the financial management order, whether it constitutes this crime in the three specific scenarios of fund use, risk alert obligation and network intermediary platform, should make a substantive judgment on whether the threat to investors’funds is caused by a huge threat, and Conduct specific guidelines for design.