Beijing Financial Bureau: officially launched the Beijing P2P net loan on-site inspection

Beijing Financial Bureau: officially launched the Beijing P2P net loan on-site inspection

Reporter Huang Xinyu

On October 11, the Beijing News reporter learned from the Beijing regulatory authorities that the on-site inspection of P2P network loans in Beijing has been officially launched. The principle of on-site inspection is "check and change while checking, that is, check and change". The scope of inspection is to receive the notice of rectification and submit the report of self-examination of Beijing P2P network lending institutions. Beijing regulators are expected to conduct a comprehensive on-site inspection and acceptance of Internet lending institutions in the next two and a half months.

According to the Beijing News reporter, Beijing regulators have held a unified internal training meeting and worked out a detailed training manual before officially starting the P2P loan site inspection and acceptance work. The training target is the personnel involved in administrative inspection, mainly including the relevant departments of the district government personnel, third-party law firms and accounting firms and other intermediary agencies, as well as a number of withdrawn banking institutions related personnel. The content of the training manual clearly covers the standards and process requirements for site inspection and acceptance work, and the main work items and detailed requirements that need to be completed by relevant inspectors throughout the site inspection and acceptance process.

According to the participants in the training meeting, the standards set up by the on-site inspection are very strict, and the supervisors will strictly grasp them.

Previously, the Beijing Internet Financial Risk Special Rectification Leading Group Office, in conjunction with the Beijing Banking Regulatory Bureau, has carried out many rounds of research on P2P lending institutions within its jurisdiction, and has issued proposals for rectification of their respective problems. But according to the Beijing News reporter, the relevant research activities are not on-site inspection and acceptance of the Internet lending institutions, and can not be commenced with the current on-site inspection work. The site inspection and acceptance of P2P network loans officially launched in Beijing will be carried out in accordance with the provisions of the national unified list of 108 issues.

Beijing Financial Bureau issued a "List of Materials for Self-discipline Inspection and Administrative Verification" on Sept. 7, which explicitly required Beijing-based P2P network lending institutions to submit a "List of documents on anti-money laundering and anti-terrorist financing system". It is reported that for a long time, the Beijing area has set relevant requirements for the construction of the anti-money laundering and anti-terrorist financing system of various mutual funds institutions within its jurisdiction. On October 10, the three ministries and commissions issued the "Internet Financial Institutions Anti-money laundering and Anti-terrorism Financing Management Measures", which fully incorporated the mutual fund industry into the anti-money laundering monitoring system.

According to the incomplete statistics of the institute, as of September 30, 2018, the number of platforms has reached 6 677 (including problem platforms), of which 1 829 are operating platforms, and the number of platforms in Beijing has exceeded 900, ranking second. From the perspective of loan balance, the P2P network lending institutions in Beijing have far more loans than other regions, amounting to 420.976 billion yuan, ranking first.

On December 18 last year, the Third Intermediate People's Court of Beijing (hereinafter referred to as the Third Intermediate Court) jointly with the Beijing Municipal Finance Bureau and the China Internet Finance Association (CIFA) conducted a trial on disputes over P2P network lending platforms accepted by the courts of the Third Intermediate Court and its jurisdictions, the administrative supervision of P2P and the development of industry self-discipline and compliance. Joint notification. The relevant person in charge of the Beijing Financial Bureau said that the Beijing Financial Bureau has issued about 400 notifications of P2P platform rectification.

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