Shulou(Shulou.com)11/24 Report--

CTOnews.com, October 12, according to the 21st Century Economic report, recently, in response to netizens' messages on the "leadership message board", the Bancassurance Regulatory Commission clearly pointed out that in view of the problems existing in some micro-loan companies in the network micro-loan business, organize local financial regulatory departments to carry out special rectification and clean-up norms, and completely stop the establishment of new online micro-loan institutions.

CTOnews.com learned that this is following the November 2017 Internet financial risk special rectification work leading group office issued a "notice on the immediate suspension of the establishment of online micro-loan companies," the supervision once again publicly mentioned the "total suspension of new online micro-loan institutions."

In November 2017, in view of the chaos in the cash loan business, the Office of the leading Group for the Special rectification of Internet Financial risks issued a notice on immediately suspending the establishment of online micro-loan companies, requiring the regulatory departments of small loan companies at all levels not to set up new online (Internet) micro-loan companies and prohibit small loan companies from operating across regions. In December of the same year, the Office of the leading Group for the Special rectification of Internet Financial risks and the Office of the leading Group for the Special rectification of P2P Network loan risks jointly issued the notice on standardizing and rectifying the "cash loan" business. and issued the "micro-loan company network micro-loan business risk special implementation plan", decided to focus on a period of time to carry out network micro-loan business risk special rectification work.

On November 2, 2020, the official website of the Bancassurance Regulatory Commission issued the interim measures for the Administration of Network Micro-loan Business (draft for soliciting opinions), defining the regulatory system, the access mechanism for network small loan business, and the basic rules for operating network small loan business. put forward requirements for institutions to cross-regional development, registered capital, risk control and so on. It is reported that at the end of this year and early next year, the "interim measures for the Administration of Network Micro-loan Business" may be formally issued.

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