互联网基金创新的监管与规制研究——以余额宝为视角

引用格式：张富强，刘桉呐.互联网基金创新的监管与规制研究——以余额宝为视角[J].重庆理工大学学报:社会科学，2015(1):109-115.

Citationformat：ZHANGFu-qiang,LIUAn-na.ResearchonSupervisionandRegulationofInternetFundInnovation——FromthePerspectiveofYuEbao[J].JournalofChongqingUniversityofTechnology:SocialScience,2015(1):109-115.

互联网基金创新的监管与规制研究
——以余额宝为视角

张富强，刘桉呐

(华南理工大学 法学院，广州510000)

摘要：余额宝一度被戏称为金融理财界的“搅局者”，因为它带来的影响如同“鲶鱼效应”，不但引领了互联网平台上风起云涌的金融理财产品创新，并且给传统金融行业带来了巨大的挑战，迫使他们重新审视自己的定位并不断重视用户体验。尽管余额宝在中国的法律监管体制下打擦边球，意图险中求胜，但它所蕴涵的创新精神无疑是正面的、值得肯定的。所以，要重点考虑如何在有效规避金融风险、保护消费者权益、实现第三方支付机构可持续发展的基础上，保障碎片化资金在法律的监管与规制下，发挥其最大效益。

关键词：互联网基金; 余额宝; 沉淀资金

作者简介：张富强(1957—)，男，江苏句容人，中国财税法研究会副会长，华南理工大学法学院教授，博士生导师，历史学博士；刘桉呐(1991—)，女，广东深圳人，硕士研究生，研究方向：经济法。

doi:10.3969/j.issn.1674-8425(s).2015.01.019

中图分类号：D035

收稿日期：2014-09-20

基金项目：重庆市社科规划重大委托项目“拓展与畅通社会群体诉求渠道的对策措施”(2012ZDB17)

ResearchonSupervisionandRegulationofInternetFundInnovation

——FromthePerspectiveofYuEbao

ZHANGFu-qiang,LIUAn-na

(SchoolofLaw,SouthChinaUniversityofTechnology,Guangzhou510000,China)

Abstract:Yu Ebao once was regarded as the “showstopper “of financial services industries because the effects it brought was like “catfish effect”, which not only leaded the constant financial products innovation on the Internet platform, but also brought huge challenge to the traditional financial sector and forced them to rethink their position and to pay attention to the user experience continually. Although Yu Ebao takes advantage of loopholes in China’s regulatory regime, intending to take risk for winning business, but the spirit of innovation it implies is undoubtedly positive and worthy of recognition. What we have to consider is how to avoid financial risks effectively, to protect the rights of consumer and to achieve sustainable development of third-party payment at the same time, and to guarantee the fragmented capital maximizing its effectiveness under supervision and regulation. Therefore, the Internet innovation point and the dilemma which it’s faced were introduced from the perspective of Yu Ebao after introducing of the basic situation of Internet Based Fund, which aims to propose legal regulation of Internet fund.

Keywords:internetfund;YuEbao;precipitationfunds

一、互联网基金概述

(一)定义

迄今为止，学界对于互联网基金并没有明确的定义。基于美、日、中三国互联网基金运作模式的共同点，笔者认为，互联网基金是指在信息时代，以互联网大数据处理方式为技术支持，以电商网站为平台，以用户体验为核心，通过第三方支付机构与基金公司的跨业合作，嫁接出的一种互联网货币基金。……