Research On Commercial Bank Financial Contract Information Disclosure Obligation

In recent years, the financial business of our country commercial bank has been developing rapidly such as the continual expansion of market size, the continual enrichment of financial products, meanwhile, with the rapid development of entrusted financial management business, commercial banks have plenty of entrust financial disputes. The continuous complaints and litigation exposed the main problem which is some commercial bank financial disclosure flaw. At present, the commercial banking law and the banking supervision law of the commercial Banks have no financial information disclosure obligation for specific provision, commercial bank financial information disclosure obligation only set in the commercial Banks'personal financial management business management provisional method (hereinafter referred to as the interim measures) and the commercial Banks'personal financial management business risk management guidelines (hereinafter referred to as the risk management guide).The potency hierarchy of the interim measures and the risk management guidelines is below laws and regulations, even after legal procedure, the interim measures and risk management guidelines can only be as the justices'referenced provisions. It is obvious that commercial banks has a big discount in performing the obligation of the information disclosure, the author will discuss the financial transactions obligation of the information disclosure from the commercial bank financial contract to better protect customer'right to know, safeguard their rights and promote the healthy development of commercial bank financing business.This paper will particularly research the information disclosure obligation of commercial bank financial contract. This article will be part of the four parts:The first part, summarizing the current situation of commercial bank financial information disclosure loss, main including:lack of risk warning; intentional selling high-risk products; when marketing products with induction and mislead; incomprehensive important facts related product in publicity and briefing material; In the period of financial products, commercial banks fail to provide timely, accurate, comprehensive assets change, the final asset valuations and other important information well; after financial product sales, commercial banks don't disclose financial capital operational management, portfolio and risk premium change and other major influence events to customers.The second part, the legal basis of the commercial banks disclosing the obligations financial contract information, including:the asymmetric information theory; the honesty and credit principle in contract law; the requirements of format contract; customer's right to know.The third part, study the commercial Banks information disclosure obligations to performance, expounding the principle of financial contract information disclosure of commercial banks, mainly including:overall principle, authentic principle, timely principle.Discussing the fulfillment of commercial bank financial contract information disclosure obligations, according to different disclosure time, financial obligations in bank financial contracts can be divided into the information disclosure obligations commitment and the continuing information disclosure obligation in fulfillment.The information disclosure obligation promise:risk of revealing obligation, it 1 should be full, clear, accurate, to ensure that customers can correctly understand the the risk; Lack of misleading customers clew of risk produced misconceptions, one party shall have the right to request the people's court or an arbitration institution to modify or repeal financial contracts; Product description obligation, commercial banks'information disclosure obligation before contracting has the nature of legal obligations, first contract obligations and collateral obligation.The continuous information disclosure obligation in contract performance: regular disclosure and real-time disclosure. Especially in customer rights or investment profits which produced great impact on the incident occurs, commercial bank should fulfill information disclosure obligation.The way of information disclosure obligations of commercial banks, when signing a contract, commercial banks should define agreement which is the way of information transmission before contracting, information disclosure obligation is used mostly to use written and verbal form before contracting. In financial contract fulfillment stage, the way of information disclosure obligation is written, network, a cell phone, E-mail and so on. The fourth part, analyzing the legal liability of commercial banks information disclosure obligation when violating information disclosure obligation, the civil legal liabilities when violating format contract and accompanying duty; the civil legal liabilities of contract fraud.