Strengthen Oversight Of Consumer Issues In The Financial Sector

USA subprime mortgage crisis exposed the financial consumer protection system predicament, tilt protection of financial consumers is insufficient, causes between the financial consumers and financial institutions essential inequality. Therefore, all countries have set up to prevent the financial crisis, financial consumers protection mechanism. In general, the mechanism includes prevention, intervention, after the shock of three links. In the prevention aspect, must strengthen financial consumer rights and obligations of financial institutions, build public confidence in the financial market stability mechanism, and make up the financial consumers in the information asymmetry, information bias and other natural weak from the system. After the shock, diversified financial dispute resolution mechanism to promote the requirements of the violation of the legitimate rights and interests of financial consumers to relief program, and penalties for violation of the obligations of financial institutions.And to promote the specialized financial consumer protection mechanism, through prevention, intervention, after the shock of three links.The three link with each other, each consisting of an organic whole, both theoretical and practical significance.This paper consists of three parts below:introduction, body and conclusion. In this paper, firstly, the writing background and significance are introduced, followed by a summary of relevant literature published in the English language, finally summarized the research ideas and research methods.The first chapter discusses the basic theory of tilt protection mechanism of financial consumers. First of all, through research, comparison of foreign law on the concept of the financial consumer definition, suggests that investors, high risk financial products or services included in personal financial investment categories of consumers. Secondly, through the analysis of the particularity of financial consumers, combined with the USA by tilt of the financial consumer protection is insufficient due to the outbreak of the subprime mortgage crisis of the case, to further explore the necessity of financial consumer protection mechanism of the slope. Thirdly, the development trend of the financial consumer protection mechanism of the comprehensive study of the tilt of the financial regulatory reform, namely the financial consumer protection has become a core part of global financial regulatory reform, financial consumer protection functions gradually separated from the traditional Prudential supervision. Finally, on the connotation of financial consumers protection mechanism, analysis of its constituent elements and the internal operation mechanism.The second chapter elaborates on how to strengthen financial consumer rights. This chapter through the reference of foreign experience, combined with China's financial consumer rights protection status, financial consumers' property safety, the right to fair trade, the right to know, right to privacy, the right to education of the concept, content and ways of protecting the recommendations. Among them, the property safety should be ensured by perfect lender of last resort system, the deposit insurance system, promote the introduction of "living wills" system. The right to fair trade should be strengthened by constructing the system of cooling off period. The right to know should be through the strengthening of risk management and control of complex financial products, to protect. Right of privacy should be sharing rules, regulations of the financial consumer information sharing rights to refine by setting information. The right to education should be through the establishment of statutory leading institutions, scientific planning, rich financial education, establish performance evaluation mechanism to promote.The third chapter elaborates how to regulate the obligations of financial institutions. Rights and obligations are the two sides of the same coin, only strengthen the obligations of financial institutions in order to better protect the rights of financial consumers. First discusses the obligation of information disclosure, by drawing on the USA, EU, Japan and other foreign experience, puts forward the financial institutions issued an interim report in time, shorten the time of preparation of the periodic report, adopt the method of combination of before and after the review, to strengthen the full disclosure obligations; strengthen risk disclosure obligations, disclosure of material information useful for financial consumers the full range of the duty of disclosure, in order to standardize. Secondly, discuss the investor suitability obligation, based on the analysis of American, European Union foreign experience, put forward to the investor classification standard, and to assess the implementation of the obligations of specific recommendations.The fourth chapter studies the diversified financial dispute resolution mechanism. Select the 1990-2014 169 years of securities civil compensation case, using empirical research methods, summed up the financial dispute resolution mechanism in China, showing a lack of judicial activism dynamic state of lack of action. Secondly based on the data from 169 case, to further refine the financial dispute resolution mechanism in China the problems, the burden of proof is not scientific, pre conditions need to be improved, lack of litigation mode. Finally, a foreign group action and the experience of ADR, should be through the improvement of financial disputes of civil compensation proceedings, especially the activation of the group litigation, and the introduction of ADR in action, to broaden the financial dispute resolution mechanism.The fifth chapter is the analysis of specialized financial consumer protection mechanism. Firstly, the developed countries in the subprime mortgage crisis because of "Shuangfeng theory" of the influence of financial supervision mode reform, and Reform in showing the tilt protection of financial consumer protection concept, and discusses the "Shuangfeng" type of financial supervision mode advantages and disadvantages of the model is not universal, the universal optimal choice of a country must be combined with national conditions the choice of financial supervision mode. Secondly, China's current lack of financial consumer protection legislation of lean concept because of the lack of legal and regulatory coordination mechanism of repetition, increase the cost of regulation in danger. Finally, proposed the establishment of a unified financial consumer protection legal framework, in order to promote the specialized financial consumer protection legislation; and through the improvement of the financial supervision and coordination of inter ministerial joint conference, in cooperation with the division of labor and coordination "three" of the 4 financial consumer protection bureau.The conclusion is the thinking of the deep concept of financial consumer protection mechanism of the slope, the mechanism is of significance in both "caveat emptor" and "sellers responsibility", both "freedom of contract" and "justice", "efficiency" and "safety consideration".