P2P网贷的业务属性、平台性质与监管治理

Study on Business Attribute,Platform Nature and Regulatory Governance of P2P Online Loan

P2P网贷机构的性质不是“网络借贷信息中介机构”或“纯粹的信息中介机构”,而是属于“网络借贷中介机构”,即一种“信用中介机构”。因为P2P平台的职能范围不限于信息中介,P2P贷款作为投资品在形式上是非上市的类债券理财产品,在本质上是采取委托贷款法律形式的准信托贷款,其信贷的性质属于准间接信用。将P2P平台明确为信用中介机构有利于降低行业风险,促进行业健康发展,因为P2P平台作为信用中介机构才可以建立风险准备金,应当承担债务监控与债务追偿责任,明示投资收益率,并可以具有有限风险补偿责任,政府需要对该行业提高监管要求如加强对“老赖”和非法集资、集资诈骗资金的追缴力度,把常规现场飞行检查与审计作为监管的核心任务。

The nature of P2P online loan organization is not the"online lending information intermediary"or"pure information intermediary",instead,they are"online lending intermediary",that is,"credit intermediary",because the functional area of the P2P platform is not limited to the information intermedium,the P2P loan as the investment product is a non-listed debt-like securities financial product in form,in essence,it is a quasi-trust loan in the legal form of the entrusted loan,and its nature of the credit is quasi-indirect credit.The P2P platform is defined as a credit intermediary,which is beneficial to reducing the industry risk and promoting the healthy development of the industry.Because P2P platform can establish a risk reserve,bear the responsibility of debt monitoring and debt recovery,clearly show the rate of return on investment and have limited risk compensation liability only act as a credit intermediary.The government should increase the regulatory requirements for the industry,such as strengthening fund recovery from the deadbeat and illegal fund-raising and fraudulent fund-raising,and taking routine site flight inspection and audit as the core task of supervision.