金融科技背景下金融监管范式的转变
周仲飞,李敬伟金融科技背景下金融监管范式的转变
Shift of Financial Regulatory Paradigm Against the Background of FinTech
期刊名称：《法学研究》
期刊年份：
作者：周仲飞,李敬伟
单位：中国浦东干部学院,对外经济贸易大学国际经济研究院
中文关键词：金融科技;跨业风险监管;适应性监管;试验性监管;监管科技
英文关键词：FinTech;cross-sector risk regulation;adaptive regulation;experimental regulation;SupTech
中文摘要：
金融科技在提高金融效率、丰富金融产品的同时，也带来了金融风险泛化。传统金融监管范式下的金融规则通常系危机型立法和监管的产物，以“命令和控制”为特征，无法应对金融科技带来的泛金融化、金融风险频发、金融体系内生和外生风险等问题。金融监管范式的转变势在必行。金融监管新范式要求在专门金融监管机构之上建立跨业风险监管机构，防止风险在金融体系内外传递；要求采用适应性监管，在金融立法机构、金融监管机构和被监管机构之间合理分配金融规则制定权；要求采用试验性监管，以应对监管介入的时点难题；要求采用数据驱动监管，对金融科技进行实时或者准实时监管，为解决监管滞后探索新的途径。
英文摘要：
FinTech, while increasing financial efficiency and financial products, also brings about the pervasiveness of financial risk. Financial rules under the traditional financial regulatory paradigm are products of crisis-oriented legislation and regulation with command and control as their main features. They fail to tackle such problems arising from FinTech as over-financialisation, high frequency of financial risks, and endogenous and exogenous risks in financial systems. Therefore, a shift of financial regulatory paradigm is inevitable. Under the new financial regulatory paradigm, an agency responsible for regulating cross-sector risks should be established above specialist financial regulatory agencies to prevent risk contagion between and out of financial systems. The new paradigm is both adaptive regulation and experimental regulation. Adaptive regulation is intended to allocate rule-making functions among legislator, financial regulatory agencies and regulated firms while the purpose of experimental regulation is to deal with the timing of regulatory intervention. The new paradigm is also data-driven regulation, under which it is possible to regulate FinTech in real time or quasi real time, thus solving the regulatory pacing problem.
全文阅读： 点击下载
