The Research Of Peer-to-Peer Online Lending Platform
Date Issued
2014
Date
2014
Author(s)
Wu, Yung-Hong
Abstract
Peer-to-Peer Lending Platform (P2P Lending Platform) is originated from MicroFinance. It grew up rapidly when it''s fisrt emergence in 2005 because of the reduction of the cost of indirect financing transaction. However, it''s not clear that there is or there is not any regulation could regulate this newly business model. In 2008, SEC issued a order that Prosper, a P2P Lending Platform in USA, to cease their operation because they violated the Security Law. Prosper has to fulfill the procedure of issue security publicly. The purpose of SEC is investors protection. However, the method of SEC is actually useless for investors protection. Instead, it makes the investors to burden extra risk.
After the regulation of SEC, the compliance cost is much growing for the P2P Lending Platform. This thesis discusses the appropriateness and the legality of SEC order, and also discusses the standard of how to identify the security established by the Supreme court.
Besides, for the efficiency and convenience, all most every P2P Lending Platform supply third-party payment service. Third-party payment may violate the Banking Law, cause it may identify as " Deposit Taking". But it''s not a proper way to regulate the P2P Lending Platform by Banking Law. Therefore, the thesis refers to other opinion, try to eastalish the proper standard of "Deposit Taking".
Subjects
個人對個人線上借貸平台
直接金融
法令遵循成本
去中介化
第三方支付中介
Type
thesis
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