智能投顾私法义务统一监管标准探析

The Unified Standard of Robo-Adviser'Obligation in Private Law

智能投顾进入中国后迅猛发展,在其实际运行中,却屡屡陷入“重视困境”,停滞不前。美国根据智能投顾提供的金融服务以及金融监管机构实施的监管标准,提出投资顾问与经纪-交易商之间功能逐渐相近,但受制于不同的法律标准,由此产生智能投顾私法义务监管标准统一化的问题。这一问题的研究在中国也有极大的现实意义,美国官方的研究和社会民众的讨论,给中国智能投顾监管制度的发展提供了启示和借鉴。为统一智能投顾私法义务,应当从调整金融监管标准入手,即建立统一的智能投顾市场准入制度,以功能性监管理念,调整智能投顾的私法义务,使其与智能投顾金融服务相匹配。

After rapid development in China,Robo-Adviser has fallen into dilemma in its operation recently.According to the financial services provided by Robo-Adviser and the regulatory standards implemented by financial regulators,the United States puts forward that Robo-Adviser and broker-dealer services become increasingly similar,but they need to meet different legal standards,which leads to unifying the regulatory standards of private legal obligations of Robo-Adviser.The official research in the United States and the public discussion have provided enlightenment and reference for the supervision Robo-Adviser in China.In order to unify the obligations of Robo-Adviser in private law,it is necessary to establish a unified market access system of Robo-Adviser and to adjust the private law obligations of Robo-Adviser in accordance with its functional supervision.