On April 5, sources familiar with the matter revealed that 153 online lending platforms in Beijing have received the Notice of Rectification of the fact that the Beijing online lending Information Intermediary agencies (hereinafter referred to as the Rectification Notice). It is revealed that the Beijing Financial Bureau from the unit secondment of the members of the Internet financial risk special rectification group, also in the recent dissolution, "a wide range of special rectification even if the end. However, there will be a small scope of remediation checks."
Rectification requirements are relatively strict
After the "rectification notice" was issued, many platforms felt the crisis. According to the exposed content, "rectification Notice" full text of 8 items 148. Among them, it is prohibited to provide guarantee or promise to guarantee principal and interest directly or in disguised form to the lender; Prohibit propaganda in physical places other than electronic channels; Propaganda through television and radio is prohibited; Web pages and platforms are prohibited from having information about financial management, expected rate of return and other features of financial products; It is forbidden to connect the asset end with financial exchange products, financial leasing company products, pawn shops, factoring companies, small loan companies, guarantee companies and other forms.
For the previous viral platform risk reserve issues, although the industry is generally expected to continue to exist for a period of time. However, the Notice of Rectification clearly stipulates that it is prohibited to set up risk deposit, reserve fund and provision fund to provide guarantee. This is a slap in the face for most platforms, and it alone will shut out most platforms.
In addition, the bank funds deposit, local financial bureau license and other issues are also a lot of platform pain, this rectification, is expected to eliminate many platforms.
Only 35 percent of the requested platforms were received
Although more than 150 platforms have received the corrective action Notice, only 35% of them have, and most have not received the relevant documents. By the end of March 2017, there were 435 P2P online lending platforms in normal operation in Beijing, according to Wangdaizhijia. In other words, in addition to the 153 platforms mentioned above, there are 282 P2P platforms in Beijing that have not received the rectification Notice.
However, some of the businesses of the platforms that have not received the rectification Notice are more complex and are not pure P2P platforms. According to the requirements of the relevant documents, the registered network loan platform in Beijing who has not received the Notice of rectification shall contact the local financial office within 30 days, and the network loan platform who has not contacted the financial office of the registered place within the deadline will be handled in accordance with the process of establishing a new institution.
The rectification should be completed before July 15
The platform that received the notice said the rectification had come to an end. Beijing regulatory authorities require the platform to report the latest rectification progress by email every 15 days, and complete all rectification by July 15.
Although there are still three months left before the rectification deadline, it is far from enough time for the platform. For example, most platforms still have risk reserves. Although the document prohibits the establishment of risk reserves, it does not give opinions on how to dispose the risk reserves. There are also no documents to guide the sale of some large bids after the ban.
In this regard, cloud money Bag external communication person said, this compliance rectification can be said to be in place in one step, really let P2P back to the essence of P2P. Speaking about the future of the platform, he said: "Trust in the platform should focus on user service, brand building and operation. We will strive to move forward on the road of compliance."
