The filing deadline set by Document No. 57 has been less than 80 days. It seems that when many online loan platforms feel that there is no hope of a record, the turning point seems to have arisen.
On April 11, it was reported that the provincial-level financial office had received a notice that the P2P network loan acceptance record will be postponed, and pointed out that the core of the record is "strictly control standards, grasp the rhythm, and move in unison."
This is the P2P platform, what is the joy?
"Extension is indeed a relief for people, and there is more hope for filing." However, Ye Zhen (a pseudonym), a P2P company in Shenzhen, told the "International Financial News" reporter that "the delay is also very likely Regulatory requirements will be more stringent, so there will be fewer P2P platforms that can eventually be filed."
Record the probability of delay
Recently, it was reported that the supervision department issued a circular urgently requesting all localities to suspend the provision of online loan record registration details. Regarding the issue of whether or not the filing is postponed, a reporter from the "International Finance News" asked relevant persons from a number of local financial offices. Most of them did not deny, but they did not want to comment on it.
Some people close to financial supervision told the media that the supervision department had notified the local financial offices on April 9 by way of a telephone call. Due to the heavy workload, difficulty, and lag in P2P rectification acceptance, it will eventually adjust the registration of the online loan. The deadline and the deadline have not yet been determined. You need to wait for the next step.
The “Notice of Doing a Good Job on the Special Rectification and Acceptance of P2P Internet Lending Risks” issued at the end of 2017 limits the filing time: Before the end of April 2018, it will complete the filing work of the major online banking institutions within its jurisdiction, and it shall be completed by the end of June 2018 at the latest. Complete all the work.
"Time is too tight." This is the consensus of various P2P platforms that are preparing for the record. At the end of March, a reporter from the International Finance News asked a number of P2P platforms in Shanghai. They generally stated that they were in the state of preparing legal opinions. “The law firm hired two lawyers to be stationed on our platform and go to work with us every day. But so far only a preliminary version of the legal opinion has been issued. It still needs constant adjustment and improvement. The final version is still a long way away, "said the marketing director of a P2P platform in Shanghai, told the "International Financial News" reporter.
Lu Nan, research director of the sacks financial research institute, said that at present, many districts have not yet announced their filing details. Regardless of whether the rumor is true or not, the filing work has actually been postponed. Lu Nan pointed out that from the filing of filing materials for the application to the publication of the results, the normal process takes about 40 working days. Even if the filing rules are immediately announced, the filing application window opens, and the first batch of filing platforms in June entered the public notice period. It is impossible to complete all the filings before the end of the month.
According to incomplete statistics, as of now, a total of 20 provinces, cities, and regions across the country have promulgated relevant rules for the record-keeping registration management, rectification and acceptance worksheets, including Beijing, Shanghai, Shenzhen, Xiamen, Dalian, Chongqing, Guangzhou, Tianjin and Guangdong. Guangxi, Fujian, Zhejiang and so on.
Rectification or further strict
As of now, there is no official and explicit statement about the postponement of filing, and there is no new timeline.
“What we are most concerned about is the question of when the extension will be delayed.” Yeh said frankly, judging from the current trend of supervision, there is a high possibility that the rectification requirements will be further increased and tightened, which means that the difficulty of filing will be met. Further increase.
Reporters learned thatbankThe new regulations on custody and internet asset management are two major factors that may delay the filing of online lending. The multiple-site filing rules require that the online loan platform must be linked to the depository of bank funds and that the depository bank must pass the evaluation of the China Internet Finance Association. However, the results of the current custody bank evaluation have not been announced.
In addition, at the end of March, the “Circular on Strengthening the Renovation of the Asset Management Business through the Internet and Conducting Acceptance Work” (No. 29) was issued. The notice requires that the public issuance and sales of asset management products rely on the Internet and the central financial management department must be obtained. Licenses issued by asset management or licenses for asset management products shall be clearly identified as illegal financial activities. The unlicensed inventory business will be compressed to zero by the end of June, otherwise it will be classified as "engaged in illegal financial activities" and will be banned, facing the cancellation of telecommunications business licenses, banned sites, the next mobile APP, and the revocation of business operations. license. This undoubtedly made the filing of the online lending platform more variable.
"From the point of view of the various types of relevant notifications and implementation details issued by the local supervisory authorities, there is currently no uniformity. This may become a difficult point for filing, and it also gives organizations some room for regulatory arbitrage." Yeh Pointed out.
Yin Zhentao, deputy director of the Law and Finance Research Office of the Institute of Finance at the Chinese Academy of Social Sciences, citates an example. From a time point of view, due to the concentration of major platforms in these first-tier cities in the north, Guangdong, Shenzhen, and Shenzhen, the progress of filing will be slow, and some platforms may be faster in other provinces and cities. By filing, there will be market fairness.
“The previous regulatory concept is that the online lending platform serves as an information intermediary, so that non-financial institutions use the filing system, but there is no problem. However, under the current strong supervision, the supervisory level proposes that doing financial services requires licensed operations. The registration of online loans is actually equivalent to a license, and there is a problem with the government's endorsement of license plates. In this context, no matter whether it is extension or adjustment, it is very necessary.” Yin Zhentao pointed out that the concept of supervision It is still more meaningful to change the market competition issues arising from the differences between local policies and regulations and to issue a national uniform filing rule.