互联网金融创新中灵活性规制的运用与反思

Flexible Regulation in Internet Finance Innovation:Application and Reflection

互联网金融作为新技术与新型商业模式相结合的私人部门创新,对传统金融监管提出了重大挑战。作为回应,国内外学者和监管者提出并实践了一系列不同于传统的命令控制型规制模式的灵活性规制方案,旨在通过灵活、动态、弹性和多元的规制方式克服传统规制所具有的刚性、僵硬、滞后等缺点,从而适应现代社会快速变化和不断创新的特点。典型的灵活性规制主要有原则型规制、合作型规制、试验型规制、技术型规制等四种类型。相较于传统规制模式,灵活性规制更加契合互联网金融产生和发展的时代特征以及互联网金融本身的特点,为互联网金融监管提供了新的思路,有效回应了互联网金融创新对金融监管的合法性、关联性和有效性所提出的挑战。然而,灵活性规制并非应对创新的灵丹妙药,也存在自身的缺陷和局限,灵活性规制方案所受到的质疑主要在于其与传统法治理念和原则存在不相融合之处。灵活性规制并不是完美的,其理念本身即承认规制的易错性并主张通过在实践中学习和不断迭代的决策改进来实现更好的规制。

As the combination of new technology and new business model,internet finance poses itself as significant challenges to traditional financial regulation.As responses,researchers and regulators at home and abroad propose to usher in a series of flexible regulatory approaches,which,in contrast with traditional command-and-control regulatory model,follows flexible,dynamic,resilient,and plural approaches to overcome such traditional regulation's shortcomings as rigidity,stiffness and slowdown,so as to adapt to such characteristics of a modern society as rapid changing and on-going innovation.This paper reviews and analyzes typical flexible regulatory approaches in internet finance industry,reflecting on them at both theoretical and practical levels,and going deep into the examination of the interactive relationship between internet finance innovation and flexible regulation.This helps the sound development of internet finance,and provides feasible ideas and references for the regulatory modernization of digital economy and other innovative areas.