从投资者保护角度论P2P网络借贷的法律监管——以信息不对称为核心.doc

从投资者保护角度谈 P2P 网络借贷的法律监管——以信息不对称为核心 DISCUSSION ON THE LEGAL SUPERVISION OF P2P INTERNET LENDING PLATFORM FROM THE PERSPECTIVE OF INVESTOR PPROTECTION——CENTERED ON INFORMATION ASYMMETRY ABSTRACT In 2007, the first P2P lending platform of China was born in Shanghai, thereafter it gains rapid development in a few years, and realizes leapfrog development in platform’s transaction amount, platform amounts, and platform’s participation numbers. In the meanwhile, investor’s investing rights and interests are not well protected. Frequently appeared problematic platforms and P2P platform’s secret bad debts make investors face great losses and find it hard to get their loans back. In P2P internet lending, investors face dual fraud risks from both P2P internet lending platforms and borrowers, and also credit risks from borrowers, which make investors be situated in an apparent weak position. Investor’s information asymmetry position with P2P internet lending platform and borrowers make them hard to identify and determine risks, and make them hard to make rational decisions under sufficient information circumstance. As a financial information intermediary agent, P2P internet lending platform is situated in a superior position in many aspects including information collection, information consolidation, information analysis, information manufacture and information publication, which enable the platform to spread false information, conceal adverse information, varnish or even modify information, publicize misleading information, and cause moral hazards, and thus impair investor’s benefits and gain excessive benefits. The current laws and regulations of China lack specific regulations on P2P internet lending, which makes P2P internet lending basically be in a unregulated status, rights and benefits of investors cannot be effectively protected, and thus they suffer unnecessary losses. For China to effectively protect the rights and interests of P2P internet lending investors, it sh