On November 27th, the 10th Campus Rule of Law Culture Festival and Graduate Humanities and Science Literacy Lecture Series of Southeast University were held in the Runliang Lecture Hall of Jiulonghu Campus, and were synchronized online through the Tencent Meeting platform. Professor Peng Bing, a professor at Peking University Law School and director of the Financial Law Research Center, was invited to give a lecture on The Basic Logic of Financial Law at Southeast University. The series of lectures on humanities and scientific literacy for graduate students is organized by the Graduate Student Association of Southeast University Law School, with more than 800 students from Southeast University participating. Mr. Liu Qichuan, Secretary of the Party Committee of the Law School, presided over this event.

Before the lecture began, Professor Liu Qichuan warmly welcomed Professor Peng Bing's arrival and gave a brief introduction to his academic achievements and research fields. Professor Peng has made remarkable achievements in the fields of financial law, securities law, and company law, and has published multiple works such as China Securities Studies, Legal Interpretation of Asset Securitization, and Legal Logic of Investment Crowdfunding. On the occasion of National Constitution Day on December 4th, the Law School specially invited Professor Peng to give this academic lecture, hoping to let students truly feel the charm and value of law.

At the beginning of the lecture, Professor Peng Bing started with the definition of financial law and proposed two basic concepts: surplus of funds and shortage of funds. Through the case of shared bicycles, the reasons for the generation of capital demand and the specific process of multiple rounds of financing are explained, and it is pointed out that the financing risk lies in the huge information asymmetry, that is, the surplus of funds cannot evaluate the risk of the shortage of funds. Professor Peng Bing believes that uncertain financing risks can lead to two phenomena - adverse selection in advance: when entrepreneurs face multiple financing requests from financially affluent parties, but cannot analyze the risk level of each financing request in detail, the financially affluent party can only price according to the average social risk level, resulting in adverse selection; Post event moral hazard: The risk that one party participating in a contract may harm the interests of the other party due to changes in incentive mechanisms.

Subsequently, Professor Peng Bing delved into the regulatory methods for financing risks, clearly distinguishing between two categories of professional intermediaries: credit intermediaries and information intermediaries, and highlighting the core role of these institutions in identifying risks. At the same time, he also revealed the challenges faced by these two types of institutions: credit intermediaries may encounter the dilemma of conflicting interests between specific business executors and the institutions themselves, while information intermediaries may be limited by the lack of economies of scale, high costs, and profitability difficulties. In order to further promote the development of the financial economy, the model of financial intermediaries has emerged. With their professional information collection, risk analysis, and monitoring capabilities, they provide new possibilities for avoiding financing risks. Professor Peng Bing proposed corresponding legal solutions based on the analysis of the advantages and disadvantages of direct and indirect financing. For direct financing issues, the Securities Law regulates chaos such as false statements, insider trading, and market manipulation through mandatory information disclosure systems and anti fraud measures; For the issue of indirect financing, measures such as the Commercial Bank Law, the Banking Supervision and Administration Law, and the Financial Stability Law strengthen the supervision of financial intermediaries through strict market access systems, prudent operation and regulatory requirements, and safe market exit arrangements, helping to establish public trust in them.

At the end of the lecture, Professor Peng Bing concluded that the legal system for direct financing mainly includes rules for information disclosure and risk-taking, while the legal system for indirect financing focuses more on strict supervision of financial intermediaries and close protection of investors. Although the content of financial law is complex and varied, its core lies in solving the problem of information asymmetry in financing. He emphasized that we need to build a financial legal system that can promote effective capital flow and protect the interests of all parties from multiple dimensions.

During the questioning session, Professor Peng Bing provided detailed answers to questions raised by classmates regarding the regulation of demonic stocks, the accelerated maturity system for shareholder contribution obligations, and the future prospects of the financial law industry.

In this two-hour lecture, Professor Peng Bing, with his profound theoretical knowledge, comprehensive analytical perspective, and interactive teaching with extensive references, stimulated students' strong interest in financial law and helped them gain a deeper understanding of the concept of financial law and its role in legal practice. The lecture was a complete success.