Chapter 679 Financial Regulation
"Collapse, did you hear me right?" Yun Ling frowned, lowered his voice and asked Li Yan.
Li Yan looked at Yun Ling's expression, and his heart instantly felt as if someone had forcibly stuffed a handful of ice lumps. The feeling of pulling out the cold is really indescribably cool.
After looking Yun Ling up and down a few times, Li Yan lowered his voice and asked, "I need a collapse now to cooperate with the following work, and I need organizational support!"
Rubbing his chin, Yun Ling frowned and said to Li Yan, "It's impossible for the organization to take care of you like this now." Crash...... You've got to give me a reason!"
Reason?
As soon as Li Yan heard this, the classic sentence "Don't find reasons for difficulties, just find ways to succeed." β
At this time, the rostrum was replaced and preached. The person who sat up again, Li Yan, knew that it was the uncle on the edge......
Frowning, Li Yan didn't speak, but listened to him: "Good evening everyone, I know that everyone is in a hurry to eat, arrange my last speech, and I don't plan to take up too much of everyone's time." β
The humorous opening remarks made everyone in the audience smile with a knowing smile on their faces.
Yun Ling tilted his head and glanced at it, and suddenly asked, "Did you follow up on the edge?"
Shaking his head, Li Yan whispered: "I've been dealing with the matter of the Demon Hunting Alliance recently, and it seems that it's also advancing over there." Edge gave me a call the other day and it seems to be fine. β
Yun Ling pondered for a moment and said, "I heard that the rare earth is not as good as I thought, you have to follow up more when necessary." β
If there was something in his words, after Li Yan hummed, he told Yun Ling that he would definitely follow up.
In other words, Yun Ling must have mastered something. Otherwise, he wouldn't have said such things suddenly, Li Yan kept the things on the edge in his mind.
At this time, Uncle Lang said on the stage: "Fintech has blurred the key elements such as the identity characteristics and behavior patterns of participants, and the illegal operation of the market has also been updated and evolved, and some criminals may engage in market manipulation, financial fraud, and illegal fundraising in the name of technological innovation." Blockchain data sharing can also lead to sensitive data leakage and even endanger national financial security. β
Li Yan didn't listen too much to these things, but after muttering for a while, he made a roughly simple return to Yun Ling about his situation in the Demon Hunting Alliance.
This includes his own situation recently, and of course Wu Hao's programmatic trading system in Lijiang also talked to Yun Lingnian.
Yun Ling's brows furrowed slightly when he heard the programmatic trading system. He seems to be more concerned about the system.
Li Yan didn't continue, and Yun Ling didn't ask anything. It could be seen that Yun Ling seemed to be pondering something.
At this time, Uncle Marginal said on the stage: "I will mainly talk about a few points. First, we must recognize the situation, financial technology is profoundly changing the pattern of financial development, and second, we must reshape the competitive landscape of the financial industry. The third is to promote the reform of financial supervision concepts and regulatory methods, and the share of financial technology in our asset management market will reach 10%, with a scale of more than 10 trillion yuan. Everyone must be aware of danger in times of peace and pay close attention to the potential risks and challenges of financial technology. β
The people above are talking, and the people below are recording. The corner of Li Yan's eyes was disappreciative when he saw that everyone was recording one after another, was it necessary for him to record this kind of official clichΓ©?
"Fintech has the characteristics of cross-regional, cross-industry, cross-market, small-scale and decentralized, the business structure design is more complex, the transaction speed and transaction volume are increasing geometrically, the risk spread is faster and more destructive, and its inherent vulnerability may cause local market shocks or even systemic risks in extreme cases. The "5.6 flash crash" of the U.S. stock market in 2010 and some events in China's stock market in recent years are typical cases of large market fluctuations caused by system defects, technical failures, and risk control failures. β
As soon as the above words fell, Yun Ling suddenly said to Li Yan: "Tell me what you think, as well as the difficulties you encountered in the Demon Hunting Alliance...... Tell me more about it. β
Li Yan nodded, although it was still talking about the possibility of regulatory arbitrage. The diversification of fintech business types and profit models, and the nesting of some innovative products, concealing the underlying assets and ultimate investors, greatly increasing the difficulty of defining and identifying financial supervision. The use of new technologies and tools by some market players to break through the current regulatory system and mechanism arrangements may lead to the emergence of a regulatory vacuum for certain businesses outside the regulatory system, which is more likely to breed regulatory arbitrage.
But Li Yan had already told Yun Ling all the difficulties and thoughts he had encountered below.
After listening to Li Yan's words, Yun Ling nodded and said, "Collapse...... Definitely not, but I think it should be possible to do some intraday probing. But I can't be the master of this matter, I have to discuss!"
"Discuss? Isn't the market controlled by our trading bureau now? Aren't the remittances, securities and social security funds all in our dispatch and investment?"
Yun Ling smiled bitterly and shook his head and said, "Yes and no. At least not that I control the movement of the whole market. After ten o'clock tomorrow, it may be able to make a wave of downward smashing action. But after two o'clock in the afternoon, I will definitely have to pull it back to maintain stability! Moreover, I need to touch it and discuss whether I can do it. β
Li Yan understood that Yun Ling could say this, and it was basically eight or nine without leaving ten. What to touch and discuss, it is just a common phrase used by people in Yun Ling's body.
"Okay, with your words, it's done. I'm thanking the organization for their help in advance!" Li Yan smiled at Yun Ling, whispered a few words in his ear, and then got up and walked towards the door of the conference room.
It's just that while walking, Li Yan can still hear Uncle Marginal say: "Illegal transactions may change their appearance." In the name of financial technology, some criminals may sell dog meat and engage in market manipulation, financial fraud, and illegal fund-raising in the name of technological innovation. Since the beginning of this year, we have cooperated with the People's Bank of China and other departments to resolutely investigate and deal with illegal financing activities such as initial coin offerings!"
Pushing open the door of the conference room, Li Yan glanced at the people in the venue. In the end, he clenched his fists and worked for the welfare of the country and the people, and talked about the chairman of the China Securities Regulatory Commission, shook his head and walked out.
took out his mobile phone and looked at the time, Li Yan quickly left the trading bureau.
Stretching out his hand to stop a taxi, Li Yan gave the driver an address, then lay on his back in the back seat of the car and muttered: "An hour of smashing time, it should be enough, right?"