Research On Investor's Suitability Obligation In Financial Management Of Commercial Banks

The suitability principle originated in the United States in the form of business ethics.The original intention was to balance the protection of investors and reduce the cost of issuing securities.From business ethics to administrative regulations,it has gradually become one of the most important rules in the field of securities trading.In recent years,my country's financial market has developed rapidly,diversified financial products and services have emerged one after another,and financial consumers' awareness and affordability have varied,making them increasingly dependent on financial institutions.As the basic requirement of modern financial services,appropriateness rules are introduced in my country to protect investors' rights and interests in the financial environment of "de-confirmation".Since 2016,disputes over the suitability obligations between financial consumers and commercial banks have continued to increase.Therefore,this article will focus on the specific suitability obligations assumed by commercial banks in the sale of wealth management products,aiming at the nature of suitability obligations and the legal relationship between the parties.To further clarify in theory and at the same time improve the specific standards of suitability obligations,and optimize the legal application of suitability obligations in personal financial management.At the same time,in the financial environment of "de-confirmation",my country's regulatory agencies put more emphasis on "Sellers fulfill their responsibilities first,and buyers are responsible for their own profits and losses."Firstly,this article analyzes and summarizes the theoretical basis and constituent elements of the appropriateness obligation,and finds that the American fiduciary duty and agency theory cannot be the theoretical basis of the appropriateness obligation of our country,but the principle of good faith in our country is sufficient to provide a theory for the appropriateness obligation support.After clarifying the theoretical basis of the appropriateness obligation in our country,this article summarizes the legal system and judicial judgments in the past five years and finds that there are two major problems.First,the legal nature of the appropriateness obligation in practice and financial consumers The legal relationship with commercial banks and liability are clearly defined in confusion;second,the courts have different specific standards for judging commercial banks to perform their appropriateness obligations.Secondly,by comparing the above issues to examine the development path of the appropriateness system in the United States,referring to the specific regulations and typical cases of the United States and the European Union,it is found that most countries and regions have accepted the trend of turning the appropriateness principle into legal rules.The regulatory standards are Financial institutions shall provide clearer and more specific operational guidelines for fulfilling their suitability obligations.Finally,this article compares the nature of the appropriateness obligation to define the reasons for the unclear formation,and uses the thinking of civil law to define the nature of the appropriateness obligation and the legal relationship between the two parties,so as to demonstrate the responsibilities it should bear.This article believes that the obligation of suitability is a legal obligation of financial institutions.Commercial banks and financial consumers are in the legal relationship of financial services.It is no longer difficult to break through the relativity of the contract in the consignment business.If the obligation of suitability is violated,the tort liability is assumed.Reasonably distribute the responsibilities of both parties.Through comparative analysis,distinguish the different financial backgrounds of my country and foreign countries.To explore and absorb ideas suitable for the development of my country's financial market.