Study On Legal Issues Of Private Banking Business

Private banking business usually refers to commercial banks for the provision of an affluent group,taking wealth management as the core package of high-level specialized financial services.According to China Merchants Bank and Bain Company jointly issued the "2009 China's Private Wealth Report" recently showed that in 2008 the amount of wealth group which can invest beyond 10 million Yuan reaches to 30 million in Mainland of China, held investible assets by 8.8 trillion Yuan totally;and the report is expected to reach 320,000 people in 2009,the scale of investment they held will be more than 9000 billion Yuan.As Mainland of China owns such a large "multi-millionaire," the emergence of population as well as their strong need of wealth management services promotes rapid development of private banking business in China.However,since the private banking business only experience a short time during the time it entered Chinese market,coupled with the lack of relevant laws and regulations of China's commercial banks and internal and external legal environment is not sound,making domestic and foreign banks in China had a series of legal issues on the way of carrying out the practice of the business.So conducting in-depth,systematic study to the typical legal issues will help to master the law of its development,solve the corresponding legislation and the administration of justice timely,so as to create a good legal environment of smooth development for China's private banking business.On the framework of this article,it includes five parts:introduction,overview of private banking,base legal relation between bank and customer of private banking business,issues of private banking and anti-money laundering,legal risk management issues of private banking business.Among them,the abstract introduces background in the context of legal issues of private banking business,the status of domestic and foreign research and research ideas and methods,while innovation proposed in this paper;the first part of the body describes an overview of private banking business,including the origin and development,conception, services target,core business and feature of private banking business,and the difference between premier financing service,in the final part,it analysis the legislative status of China's private banking business.From the second part to the third part,this article issues three important legal issues need to be resolved among the development of private banking business,and carried out a comprehensive comparative analysis and research to them,and propose the corresponding solutions or proposals on the basis of the foregoing analysis.Specifically,the second part aims to the legal basis for relations between the unknown problem of existing base legal relation between bank and customer of private banking business,through the comparative study of theory on such issue in foreign countries,defined the development of China's private banking business in Bank of the legal relationship with clients as a fiduciary relationship;the third part starts on confliction between commercial banks conducting banking business and obligations of anti-money-laundering,after analysis and discussion of the balance principles of them,proposes legal suggestion to solve the confliction;The last part,namely,the fourth part,is based on the analysis of legal risk issue which appeared in developing of private banking,and learn from the "New Basel Capital Accord",which mentioned the internal governance structure,external regulatory constraints and the market experience of regulation to legal risk management of commercial bank,which come from that we should from inside to out,from the internal governance structure, technology and regulations,to all aspects of the external legal environment of commercial banks,to improve the legal risk management system of China's private banking business.