"Enhancing risk prevention, purifying the development environment" — the second tracking report of the Putuo District Financial Risk Prevention Research Conference(2)

"Enhance risk prevention and purify the development environment" - the second meeting of financial risk prevention in Putuo District was held at 9:00 a.m. on May 10, 2018. The research object is Putuo District market supervision and Administration Bureau. Wang, director general of Putuo District market supervision administration, Hou section chief of Putuo District supervision section and Ji section chief of Putuo District trademark advertising section attended the meeting. Chairman Chen of Putuo District CPPCC Committee presided over the meeting. Wang Shudong, director of Shanghai Founder law firm, participated in the survey.

The purpose of this meeting is to understand how P2P companies and related cases are viewed from the perspective of Putuo District market supervision authority. According to Director Wang, the current market environment is "letting go", but there is no strict control. Some enterprises blindly follow the trend and break through the law, which eventually leads to serious social consequences, and the final victims are small investors. As there is no support of relevant laws and regulations, the market supervision administration can do very limited.

The chief of the trademark advertising section of the district said that at present, there are two main ways for the market supervision and Administration Bureau to punish the financial risk prevention and punishment, one is to punish the false propaganda enterprises according to the advertising law, and the other is to order the enterprises engaged in business activities without license to make corrections according to the company law, and then to give corresponding punishment if they refuse to make corrections.

In addition, director Wang stressed that to develop high-quality financial companies, it is necessary to have a strict review system. For example, at the beginning of the establishment, it is necessary to strictly control, and the capital sources of shareholders below the sponsors should be practical. These need to be supported by a set of laws and regulations. However, the legislation in this area is still in a relatively blank stage.

Through this research meeting, we found that there are indeed some loopholes in the current laws and regulations on the supervision of such financial enterprises, so we also need to further consider how to build a reasonable legal system, so that the authorities with the power to enforce the law can fully exercise their power to enforce the law, so as to regulate these enterprises, so that high-quality enterprises can develop healthily, so as to create a good business environment.