The new Criminal Procedure Law confirms the principle of "please admit guilt and accept punishment, and you may be given a lighter sentence." After signing a written statement, some minor crimes that are not harmful to society can be treated as crimes. After privately communicating with one of the top ten prosecutors in a certain province, he was optimistic about pleading guilty and accepting punishment, and believed that there would be many typical cases in actual judicial practice in the future.
Among them, Sister Sa is more conservative. If she is suspected of illegally absorbing public deposits, a benign exit will not cause greater social harm, and the actual controller and all executives of the P2P platform will not be treated as a crime; some prosecutors are more open-minded. For online loan platforms that are responsible for their own profits and losses or are even suspected of fund-raising fraud, if handled properly, there will be no great social harm. After consultation with lawyers, the result of not dealing with the crime can also be achieved. We'll see.
2. Regulatory agencies advocate "healthy exit" and scientifically guide the market to clear.
We have seen that from the China Mutual Finance Association to local mutual finance associations, they are all issuing self-regulatory organization standards and recommendations for a healthy exit from the online lending industry. However, in practice, the exit of P2P online lending platforms is often closely related to local economic investigations, financial offices, and banking regulatory bureaus. In particular, local economic investigations face great social pressure.
The official system design is particularly important. For benign exit, it should be divided into stages, different situations, urgent and slow. It is not appropriate to implement "uniformity" or "one size fits all" as individual cases vary greatly. It should be "waste nothing".
3. Internet courts and civil courts of various courts actively assist in solving "liquidity" difficulties.
According to our observation, there are currently three domestic Internet courts that do not accept P2P network small loan disputes. In addition, in order to ensure the "closure rate", the civil divisions of grassroots courts are discouraged from batch litigation workload. This also makes it difficult for P2P online lending platforms to collect funds. Although it is an information intermediary, the majority of financial consumers (lenders) entrust the platform to collect payments. Once collection is not in place, overdue extensions will increase, seriously affecting the reputation of online loan platforms, causing a large loss of customers, ultimately leading to a decline in activity and affecting the normal operations of the company.
In addition, in the "Special Action to Crack Down on Gangs and Eliminate Evil", laws and regulations will be strictly applied. It is not appropriate to deal with companies such as car loans through "colored glasses" and it is necessary to ensure that we seek truth from facts.
4. Introduce market-oriented means to solve the "exit" problem at multiple levels.
Based on public data, we can clearly see that the number of employees in regulatory agencies, plus the number of employees in self-regulatory organizations (including secondments), is very small. We must rely on the market, introduce market-oriented means, and introduce lawyers, accountants, public opinion, and IT talents into the retirement business, design plans, review finances, avoid panic, and protect everyone's right to express their opinions.
Taking "traceability finance" as an example, Sister Sa learned through communication with senior executives that she has given guidance to many lenders, allowing everyone to express their opinions on a system, get what they need, and use their imaginations. Wide open. This method of replacing "coercion" with "persuasion" is worth learning.
2 Details of a benign exit
It should be said that the benign exit of P2P is a systematic project, and the details often contain risks. We try hard to remind you that you have been friends for many years and that you are walking on eggshells.
1. Exit opportunity, when selecting "surplus grain".
I suggest you don’t wait until the end of your rope before you consider quitting this industry. At that point, you might just be "stuck." It is recommended that you consider exiting when the amount of funds and business are still good, so that you have the opportunity to "exit unscathed." Because the hidden standard for repayment of funds by P2P platforms after economic surveys is 50, if the borrower cannot be guaranteed to repay half of the principal, it will be difficult to exit in a healthy manner. Below 35, it is extremely difficult and almost a dream.
2. Lender’s rights protection and comfort.
Without cash and assets (which must be liquidated as soon as possible), it is equivalent to cooking without rice, and lenders will naturally not agree. We often face this problem when dealing with "good exit" projects.
It is impossible for platform owners to be unwilling to use assets and funds to solve problems without making mistakes. At the same time, if the lender needs to be comforted, you can proactively contact the local police to do a good job in public security and achieve satisfactory social effects on the basis of protecting the lender's "right to know."
3. Don’t break your promise.
Lenders’ confidence in the online lending industry is “fragile.” Once faced with the "repayment platform", you will inevitably beat the drum. Are online lending platforms trustworthy? They are also well prepared. Once an online lending platform goes back on its promise, it will inevitably trigger large-scale reports. After all, the economic investigation department must act in accordance with the law, and the chance of filing a case is greater. Once a criminal case is formally filed, it is difficult for the actual controller and senior executives to be "detained" and to exit smoothly.
4. Blind confidence is not acceptable.
According to our observation, the actual controllers of most online lending platforms are middle-aged men who have successful entrepreneurial experiences and are extremely confident. In the cases we represented, almost everyone was "obsessed with confidence" when they were not in the detention center. Some claimed to be able to make a comeback in five months; some claimed to have turned around in eight months, but after helping them buy time, We haven't seen any signs of a turnaround yet. At this point, the lender's patience has been exhausted and criminal risks can easily arise.
3 Other issues that need attention
1. The handling of the same type of problems in different places should be basically the same.
Taking "self-financing" as an example, it is recommended that regulatory agencies (including the national self-regulatory organization: China Internet Finance Association) give principled opinions when a platform is suspected of self-financing or partial self-financing. If withdrawal is not allowed, self-financing must be repaid in full. Sister Yi privately learned from the actual controllers of many platforms that many platforms have some self-contained behaviors, but the degree of confidentiality is different.
2. The issue of capital pools needs to be taken seriously.
Fund pooling is certainly illegal, but is capital pooling a crime? In practice, some investigative agencies and prosecutors have an inherent understanding that fund pools = illegal absorption of public deposits. In fact, we think we should look at what caused the capital pool and whether it was possible to avoid it under the conditions at the time. "The law cannot be imposed."
3. Gather together to avoid gang involvement.
Judging from the practical experience of the Sajie team, if the outsourced collection team uses violence and other means to cause the borrower to become disabled, the client may also deal with it as the "principal culprit". At the same time, one important point should be grasped: collecting legal debts generally does not constitute a crime. Whether the debt is legal directly affects the nature of collection. Therefore, collection companies must also pay attention to risks and prevent legal risks caused by inadvertent "taking over".
4. Don’t fall into greater risks because of a healthy exit.
Many friends in the P2P circle have switched to the coin industry. Some bosses are trying to use ICO to issue currency financing to repay the funds of online loan platform lenders. It should be said that this move is more risky, and may even be suspected of multiple "felonies", and the gains outweigh the losses. It is recommended to understand the law and not to shoot yourself in the foot, from being suspected of illegally absorbing public deposits to committing fraud.
In the end, we watched the industry develop from an idea, break out of the shell, develop in the jungle, reach its peak, experience turning points, break out thunderstorms, gradually become standardized, and move towards the road of healthy development. We know that there will always be companies that fail, and there will always be practitioners who leave in tears. We just hope to stick to the industry and legally wait for "registration" (low probability); there is no platform that cannot persist or has other arrangements, and she successfully exited the market. Every time Sister Sa goes to the detention center to visit her old friends, she feels very heavy.
Benign exit may be the way of most P2P platforms. In this case, it's better to do it sooner rather than later. When each city's "pilots" and "highlights" are consistently green, the exit process is more user-friendly and easier to muddle through.
After crossing this mountain, we are still waiting. Don’t be afraid, sister, go forward boldly! There are always more solutions than difficulties. ......