P2P The Ban On Capital Pools And Lending Regulation Must Be Thorough.

The special rectification of Internet financial risks led by the Central Bank of China has already started. Reuters quoted two sources as saying that the work plan is expected to come out.

It is clear that the P2P network lending platform shall not set up a pool of funds and shall not grant loans; the shareholding public financing platform shall not issue false targets, and shall not raise funds on its own.

The work schedule should be completed by the end of July. The rectification, inspection and evaluation will be completed before the end of November. The acceptance and regional reports will be completed before the end of January 2017. The overall report will be submitted to the State Council before the end of March 2017.

The report said.

Programme requirements

The network lending platform and the shareholding public financing platform are not allowed to engage in financial operations such as asset management, creditor's rights or equity pfer, and high-risk securities market allocation without approval. In terms of capital storage, P2P and equity financing platforms should be divided into account funds and their own funds, and the eligible banking financial institutions should be selected as depository institutions.

In addition, real estate development enterprises, real estate intermediaries and Internet financial institutions do not acquire relevant financial qualifications. They should not use the P2P network lending platform and the shareholding public financing platform to engage in real estate financial business, and regulate the behavior of the Internet, such as "crowd raising and buying houses", and strictly prohibit all kinds of institutions to carry out the "down payment" nature of business.

In terms of cross-border financial business, the plan is clear. Internet enterprises can not carry out relevant business on the Internet without obtaining relevant financial business qualifications; Internet companies and traditional financial enterprises compete on an equal footing and adopt "penetrating" supervision methods, and identify business attributes according to their business essence.

At the same time, without approval, private placements can not be classified into many categories.

Sell to the public through packaging, splitting and so on.

Non bank payment institutions should not connect multiple banking systems and carry out inter bank liquidation in disguised form. Non bank payment agencies should carry out interbank payment business through the PBC interbank clearing system or a liquidation institution with legitimate qualifications.

According to the plan, the establishment of financial institutions and financial activities must be subject to admittance management according to law.

In the Central Plains, we should not use the words "exchange", "trading center", "finance", "asset management", "financial management", "fund", "fund management", "investment management", "wealth management", "equity investment fund", "net loan", "network lending", "P2P", "equity financing", "Internet insurance", "payment" and so on.

Financial institutions should not rely on the Internet to carry out asset management businesses and avoid regulatory requirements through various asset management products.

We should adopt the "penetrative" supervision method to judge the nature of business, regulatory responsibilities and rules and regulatory requirements that should be followed through the surface.

In terms of the third party payment business, the scheme requires that non bank payment institutions should not misappropriate or occupy customer reserve funds. The customer reserve account should be set up in the central bank or the commercial banks that meet the requirements. The central bank or commercial banks should not pay interest to the non bank payment institutions' payment accounts, prevent the payment institutions from taking the "interest margin" as the main profit mode, and guide the non bank payment institutions to return to provide the purpose of providing small, fast and convenient small and micro payment services.