Some platforms in Shenzhen have recently received rectification requirements from the city's finance office, following Beijing's issuance of the "Requirements on Fact Identification and Rectification of online lending information Intermediaries" (hereinafter referred to as "rectification requirements") in March. It is worth noting that the full text of the rectification requirements total 8 items 148, consistent with the rectification requirements of Beijing.
According to a report by Wangdaizhijia, the rectification request was issued to some platforms in May, and those platforms that received the rectification request first conducted self-inspections according to the requirements, followed by on-site inspections by local financial regulators. The on-site inspection will give rectification suggestions in the near future.
Beijing rectification requirements model
In March this year, Beijing first issued the "Fact Identification and Rectification Requirements for online lending information intermediaries", the content is quite detailed, a total of 8 items 148, becoming the first formal rectification requirements document.
Subsequently, according to several media reports, Guangzhou issued rectification requirements in June, Shanghai formally issued rectification requirements in August, and the relevant documents issued by Shenzhen this time, first-tier cities in China have already realized the issuance of rectification requirements and practical work.
It is worth mentioning that since Beijing was the first to issue the rectification requirements and they were very specific and detailed, Guangzhou, Shanghai, Shenzhen and other places used Beijing as the model for the rectification requirements. Among them, Guangzhou has not been disclosed, Shenzhen has directly used the full text, and only Shanghai has changed it. However, the bank localization issue has also caused a lot of controversy.
Net loan platform actively rectification
Although the Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries were jointly issued by several ministries on August 24, 2016, this document has no guiding significance in terms of specific operation. The rectification requirements are different, each has specific directivity, so it has a significant guiding role for the rectification of the network loan platform.
The platform that received the corrective action request began to study and develop a plan. For example, the online lending platform cloud Qianbagao immediately set up a rectification team after receiving the rectification requirements, and then conducted comprehensive investigation and rectification. Soon after, the upgraded version of security and information disclosure was launched. At the same time, a major breakthrough was made in the aspect of bank deposit management, and the bank of Xi 'an deposit management system was officially connected and launched. All of these were completed within six months of the rectification requirements.
It is understood that the Shenzhen network loan platform is in accordance with the content of the "Shenzhen Online lending Information Intermediary Registration Measures" (draft for comments)) to make rectification preparations, and the rectification requirements are more conducive to the fine rectification of the platform, including the loan limit, bank deposit, information disclosure and other important content.
Industry differentiation intensifies, triggering a wave of exit
Since the city issued the rectification requirements, wind critics have described them as harsh. This time Shenzhen is the same file, but no similar sound. The main reason lies in the differentiation of the net loan industry. The platforms that are not able to complete the rectification are gradually exiting, while the remaining platforms are almost all able to complete the rectification task. The survival of the fittest also applies to the online lending industry.
The exit of the platform caused many investors to worry. Benign exit platform is beyond reproach, but many platforms choose to run away with money, for the whole industry, is not a small challenge.
In this regard, Li Fengyi, CEO of Cloud Money Bag, said that the platform running away from the development of the remaining platforms is not conducive to the development of the remaining platforms, and it is extremely unfair to these platforms. However, the only thing we can do is to maintain our own good operation in the case of the intensified differentiation of the net loan industry. Compliance development, healthy development, to show investors the real strength and style of the platform, naturally there will be clear-eyed investors favor us.
