对非法集资行为的认定及其法律规制问题的检视

Examination on the Illegal Fund-Raising Behaviors Identification and Their Legal Regulation

随着我国近几年金融行业的不断发展,非法集资行为频繁出现。国家很早就通过法律对其进行遏制,但非法集资行为愈演愈烈的现实情况与刑法严厉打击非法集资的预期设想之间却存在巨大落差。由于民间金融没有纳入法制化体系,阻碍了大量民间资本与市场资金需求的有效衔接。庞大的体外循环资金诱发了非法集资行为的滋生,且当前粗糙的非法集资行为认定标准存在逻辑缺失,对集资方式的直接性与间接性混为一谈,同时缺乏区分集资行为"目的性"的标准,严重削弱了法律的规制能力。民间集资行为必然非法的错误认知,对非法集资罪名的扩张适用趋势明显且相关刑罚普遍过重,从而导致了法律规制难以行之有效实施。在既有法律规制本身存在的偏失和非法集资行为多样化发展的双重挑战下,亟需结合非法集资行为证券化发展趋势,准确界定投资行为的合法性,有针对性地改革基础性金融法律,优化既有的非法集资行为法律规制体系,以实现对现实中层出不穷非法集资行为的有效规制。

With the continuous development of the financial industry in China in recent years,the illegal fund-raising behaviors have become more frequent.China has passed laws to contain it very early,but there is a huge gap between the reality of increasing illegal fund-raising and the anticipation of criminal law to crack down on illegal fundraising.Because private finance is not included in the legal system,it has hindered the effective connection between a large number of private capital and market capital demand.The huge extracorporeal circulation funds have induced the breeding of illegal fund-raising behaviors,and the rough identification standards of illegal fund-raising behaviors which are lack of overall logic,there are many confused problems in directness and indirectness of fund-raising methods,at the same time,it lacks the standards to distinguish"teleonomy"of fund-raising behaviors,so weaken the regulation capacity of law seriously.The false recognition that the private fund-raising behavior is necessarily illegal,the expanding application trend of illegal fund-raising crime is obvious and the relevant penalties are relatively heavy,which lead to the difficulty in effective implementation of legal regulations.Under the double challenges of current legal regulations with their deviations and the diversified development of illegal fund-raising behaviors,it is necessary to combine the securitization development tendency of illegal fund-raising behaviors,accurately define the legitimacy of investment behaviors,reform the basic financial laws in a targeted manner,optimize the current legal regulation systems of illegal fund-raising behaviors,in order to achieve the effective regulation of endless illegal fund-raising behaviors in reality.