News

By Sun Jinlan,

Translated by Yuan Yue

 

  In December, 17th , 2016，hosted by the Shanghai City Law Financial Law Research Association, together with Shanghai University of Finance and Economics law school, and its financial services and Consumer Protection Law Research Center, the twentieth session of the "Shanghai City Financial Law Forum" was held in the report hall of Shanghai University of Finance and Economics administration building.

 

  

  The conference consists of three sections including the opening ceremony, four speech units and the closing ceremony, in which four aspects were fully discussed, namely, P2P net loan and the Internet financial mechanism, legal regulation to raise public mode, business regulation, and financial innovation and financial innovation and consumer protection.

 

   The auspices of the Shanghai Institute of Law Financial Law Association Secretary General Li Huijun, started the opening ceremony. First of all, the vice president of Shanghai University of Finance and Economics law school professor Song Xiaoyan gave the welcome speech, thanked the arrival of experts and the active participation of students. At the same time, Dean Song also introduced the special courses about common law and comparative law study of Shanghai University of Finance and Economics law school law, that is to say, opening up full English teaching courses from the undergraduate stage to the master and doctor period. At the end of welcome speech, Dean Song hoped that this forum can make students communicate with each other and make their thought sparks. Subsequently, Shanghai law society research department deputy Director Zhang Zhijun gave another speech, Director Zhang introduced the development process of Financial Law Graduate Forum, which is one of the best forum, for continuous growth in the financial law forum team and building up a platform for graduate students. Meanwhile, he put forward four points: First, he is looking forward to the financial law forum to put more emphasis on young talent training. Second, he hopes that the forum will build more academic exchange platform. Third, he hopes to graduate from every school could use the various conditions that the institution provided to communicate. Fourth, he is looking forward to the realization of the transformation of theory. Finally, Professor Wu Hong, President of the Shanghai Institute of financial law, gave his speech. Professor Wu Hong affirmed the essays of students who participated in this forum, and pointed out that finance is the core of the market economy, and the central issue of deepening reformation. Following the requirements of the law society, the Research Forum would actively results promotion, practice application, talents introduction, and focus on profession, cohesion strength.

 

 

 

  

 

  The first unit was presided by the Shanghai City Law Financial Law Research Association vice president and lawyer Song Yixin. Zhang Xinyu, a master student of 2016 civil and commercial law major from Shanghai foreign economic and Trade University School of law, spoke first, whose theme was the legal nature and legal supervision of P2P lending network. Zhang first put forward the definition of P2P lending, and summarized the legal risks existing in the development, finally provided reasonable suggestions in the precondition of establishing internet financial regulatory principles for Internet financial regulation. Followed by the speech of Yu Di, a Shanghai foreign economic and Trade University Law School 2016 master of law graduate, focused on the theme of civil and criminal law risk and prevention on Campus Internet Loan. Yu Di introduced the types of loan and development advantages of campus internet loan, while analyzed the legal risks exist therein, and put forward his own views on the legal risk prevention, which includes unifying regulatory standards, clarifying the regulatory body, strengthening self-discipline, and standardizing the construction of campus publicity. At the same time, creating credit system, and strengthening the exchange of information within the industry, reviewing the loan before authorizing, establishing strict examination standards, finally building a diversified dispute resolution mechanism. Followed by Jiang Shu, from the Law School of Shanghai University, stated about the legal risk, prevention and control of Internet banking financial statements. Jiang started from the risk analysis of Internet financial platform, and gave his opinion on regulatory improvement of the Internet financial platform, e.g. to raise the threshold of access, clear the minimum registered capital, to improve the Internet banking platform exit mechanism, to establish a liquidation system, to introduce a financial platform risk fund, to clarify proper defendant status of the platform and "intermediate" role. Finally, from the East China University of Political and law, the school of International Financial Law Institute of law, Master Li Liping, stated on the theme of the Internet financial law risk analysis --- the Entertainment Treasure model as the research object. She mentioned that the development of Internet banking, has made Internet insurance a new force. Suddenly, it receives a wide attention. The Entertainment Treasure Alibaba launched uses the “insurance plus trust model” to connect physical property insurance products. However, under the Internet background, a series of problems arose, such as how to avoid the inherent risks of financial insurance, how to fulfill insurer’s disclaimer obligations, how to prevent fictional insurance relationship and so on, these could raise very profound discussion and thought. She raised example Entertainment Treasure as the object of study, analyzed the legal structure and legal risks, explored the innovation of Internet banking insurance, commented on Internet insurance regulatory status quo.

 

  The reviewer of first unit is Professor Ji Ligang of Fudan University law school, who affirmed the students writing innovative spirit, and put forward the following suggestions: first, when dealing with Internet financial problems, the writers shouldn't blindly pursue fashion, but pay attention to the problems associated with the law in the society. Second, in dealing with the relationship between theory and practice, the writers should have theory as basement, not just discuss the simple fact, but rather focus on the intrinsic logic. There exists basis to put forward opinions and suggestions, do not stuck in legal nihilism and the law instrumentalism. Followed by the Shanghai foreign trade university law school associate professor Zhang Jihong comments, Professor Zhang's thesis on the students made the following recommendations: a form, the format should be standardized and uniform. Two content, we should pay attention to the use of research methods, in-depth excavation, strengthen the analysis. Shanghai foreign trade university law school associate professor Zhang Jihong also commented, as two recommendations: One is from form, the format should be standardized and uniform. Another is from content, attention should be paid to the use of research methods, in-depth excavation, and analysis.

 

 

  The second unit is presided over by Jia Xiling, associate professor, from School of economic law of East China University of politics and law. The keynote speech is thought about building legal system for equity crowdfunding platform, whose spokesman is Shanghai foreign economic and Trade University Law School 2016 civil and commercial law Master Zhao Ming. Zhao introduced the development of public equity raising in our country, analyzed the necessity of constructing legal system for crowdfunding platform, discussed the business orientation and the legal nature of public equity raising platform and the existing problems, and raised suggestions from two perspectives, platform’s supervision over investments and financing, and regulatory reviewing procedure design respectively. The theme of the second speech is the cost-benefit analysis in equity crowdfunding, and the spokesman is the International Financial Law Institute of East China University of Political science and Law 2016 master Zhang Yuanyuan. Zhang analyzed the cost-benefit investors faced in the equity crowdfunding, in order to find the reason why investors’ incentive to choose equity crowdfunding is not strong, and raised some advices for investors to reduce the cost and improve the possibility of achieving the expected return to promote the development of equity crowdfunding in China accordingly. The third keynote speech is the legal risks and rules for second-hand car crowdfunding, spokesman for which is Wang Qiuwen, master of law 2016, from Shanghai Foreign Trade University. Wang started from the meaning of second-hand car crowdfunding, with analysis of the existing criminal, administrative, civil legal risks, and raised legislation and regulatory proposals accordingly. Keynote speech four is study on the legal norms of public donation: from the perspective of personal help-seeking. Guo Yuting, the East China University of Political Science Graduate School of law and finance 2016 master, raised the topic from a recent hot spot, Luo Yixiao’s incident, led to public donations launched personal assistance way. He mentioned there lacks comprehensive legal framework about the way of the public to help individual donation. Therefore, there exposed a lot of criticism in real life. And he put forward legal measures for this subject. The conferee for this unit is Shandong University law school Dean Shen Wei and Shanghai University law school associate professor Li Lixin. Dean Shen put forward operative suggestions on the form and content of the thesis, the professional analysis and research methods. And Professor Li suggested that the students should engage in in-depth excavation, innovative research on the topic and focusing on targeted analysis in writing papers.

 

 

  The third unit is hosted by Professor Ji Ligang of Fudan University law school. The first topic is initial legal system of legal digital currency, which is represented by the 2015 graduate student of Shanghai University of Finance and Economics law school, Dr Jing Xin. She analyzed the concept of digital currency, discussed legal problems of digital currency, and the relationship between private autonomy and government regulation on the currency of the digital background, and put forward that China should integrate the relevant regulations in the public law and private law involving monetary property, and build new law to regulate new currency. The second theme is about bulk commodity electronic trading platform’s re-positioning and way back to trading on reflection and some suggestions to existing regulation by economic law, presented by East China University of Political Science Graduate School of law and finance 2016 master , Lu Qingchuan. Lu proposed fuzzy contradiction and positioning of commodity spot electronic trading platform in legislation, revealed the electronic transaction risk for current commodity spot trading platform in the absence of clear location. And finally put forward the positioning dissection and spot commodity spot trading return advice. Subject three is the legal nature and regulation of one yuan purchase, by Chen Xinyu, a master of law of the 2016 Law School of Shanghai University of Foreign Trade and Economic Cooperation. By studying the basic characteristics of one yuan purchase, Chen analyzed the discussion of other scholars, and defined one yuan purchase as a disguised gambling, which should be regulated by the criminal law. However, in order to encourage innovation, it was qualified as lottery, and then regulated by the government according to the provisions of relevant legislation. The theme four discussed the business model, legal risk and regulatory issues for the theme of intelligent investment adviser, by Shanghai foreign economic and Trade University School of law 2016 master of law, Yang Yuejie. Yang discussed from two dimensions: unilaterally, compared the status of the United States and other intelligent investment countries, and vertically, compared traditional investment advisers and emerging intelligent consultant. From a more comprehensive understanding of the intelligent consultant mode, she put forward some suggestions to the related supervision in China. This unit was reviewed by Shanghai University School of law Associate Professor Chen Yu. Professor Chen put forward suggestions for each paper, and advised students to focus on topics, arguments should not be too scattered, but to focus on targeted. Shanghai Institute of finance vice president, Song Yixin, conducted a review about discussing in-depth and concentrating on the theme.

 

 

  The fourth unit is presided by Professor Chen Jianping of Shanghai University law school. The first spokesman is Dr. Yue Jinlu, 2013 legal economics graduate of Shanghai University of Finance and Economics School of law, and his subject was the features, the meaning and the types of Financial Ombudsman. Dr. Yue Jinlu discusses the relationship, similarity and difference between Financial Ombudsman and litigation, arbitration, mediation and other dispute resolution methods. The second speech was by the Law School of Zhongnan University of Economics and Law 2015 grade economic law Master Song Yixin. The subject of Internet Financial Privacy protection. Song defined the nature of financial privacy, introduced the current situation of our country's current protection, and made a comparative analysis of the protection of financial privacy. Speech three is by the East China University of Political Science Graduate School of education Master Feng Shuai, and the title of the thesis is about several issues in the draft of the electronic commerce law in the perspective of personal information protection. Feng used the draft law of electronic commerce to students as the blueprint, presented the concept of personal information protection in e-commerce law, and proposed to clarify definition, system design, operation and other aspects, in order to benefit the electronic commerce law in suspense. Speech four was presented Shanghai foreign economic and Trade University School of law 2016 master of law, Ning Sitian, the topic of which is the protection of personal information right in the Internet credit system, by the example of Zhima Credit. Ning gave the legal definition of the relevant rights in the Internet credit information, and revealed problems and challenges posed by the relevant recommendations. Professor Li Wenli of Shanghai Foreign Trade University Law School Professor Li, appraised students for able to find financial issues in about half a year, and also reminded the students of the integration logic structure. Followed by the Shanghai University of Finance and Economics law school teacher Su pan. She thoroughly analyzed students’ paper and gave suggestions, as follows, “writing papers not only means putting forward problems, but also solving it. It is also important to pay attention to the format specification, in accordance with the requirements of the reference to indicate the source.

 

 

  The closing ceremony was presided by Li Huijun, general secretary of the Shanghai Institute of Finance. Firstly, the twentieth session of the "Shanghai City Financial Law Forum" the award ceremony was held, followed by giving over the next forum by associate professor Li Lixin of Shanghai University of Finance and Economics School of law, Shanghai Univer School of law and Secretary Zhou Jiepu. And finally by the Shanghai City Law Financial Law Research Association Wu Hong’s closing speech. Wu, chairman of the forum, thought that the topic is very forward, and give affirmation to the success of the forum. This forum has achieved an interdisciplinary, cross school, cross regional success. President Wu pointed out that the Financial Law Forum continues to expand the scale, and the level of graduate students constantly improving. They are very sensitive to new things, and willing to accept new things with an open mind, data collection and research ability. But at the same time, there exists some problems. President Wu made three suggestions: Awareness of the problem, focus on research methods, and further enhance the ability to practice the theory. At the end of the twentieth session, Chairman Wu congratulated on the success of “Shanghai City Financial Law Forum" being held in Shanghai University of Finance and Economics School of law, and gave great expectations and blessings to the future of Shanghai Financial Law Graduate Forum.

 

  

 

(Original:http://law.shufe.edu.cn/show.aspx?info_lb=12&flag=12&info_id=3104)