Of course, it is time to rectify (not only students, but also many investors in society have lost money). Didn't the country start to rectify? Nothing can be accomplished overnight.

The state's supervision of the financial industry is all-round and wide-ranging, and there is some resistance to its implementation. The state has begun to ban the establishment of new Internet financial institutions, and the regulatory authorities have also dealt with institutions that change their shareholders or move their registered places without authorization. Most institutions in the market have realized risk clearing through active liquidation, closure or transformation and development.

This year, more than 400 risk disposal working groups have been set up nationwide to strengthen the control of high-risk institutions. Judging from the previous inspection, illegal activities such as fund pool, illegal lending, disguised commitment to protect capital and interest, and opaque information disclosure are still common.

Most platforms even have serious violations of laws and regulations, such as shareholders' self-financing, false bidding, false capital injection and misappropriation of funds. The major risks in the online lending industry should not be underestimated. Starting from the third quarter meeting of 20 19, we will continue to strictly implement the "three reductions" requirements of reducing the number of institutions, reducing the scale of industries and reducing the number of people involved, and increase the intensity of benign withdrawal. For a few institutions that have the conditions in terms of capital and professional management ability, they are allowed and encouraged to apply to become online microfinance companies and consumer finance companies. For the institutions to be transformed or liquidated, the government will urge enterprises to formulate redemption plans as soon as possible and put them into practice.

It is expected that in the fourth quarter of 20 19, on the basis of basically completing compliance inspection, access system and data verification, online operating institutions will be classified and managed one by one, and various measures will be taken to eliminate risks. Special rectification work in accordance with the principle of "a mature family, a family", will be basically qualified institutions into the regulatory pilot.