Study On The Financial Managers' Special Private Law Obligations

Financial consumption, as a rising consumption, derives from modern finance. As a special consuming market, financial consuming market takes financial product as transaction objects. It is in accordance with the general market rules as well as the system of the other kinds of markets. Analysis of the trade rules and system reveal that the rights and obligations of both sides involved could realize fair deal, which is the ultimate object. Then the inverse reasoning, by investigating rights and obligations of both sides involved, can also clarify the system of rules in the whole financial consuming market by a handful the whole sack. Because of the lack of specialized knowledge and reasoned judgment, special protection on fiancial consumer is needed and, in doing so, fair deal would eventually realize. However, due to the simplification of protection measures, the rights of financial consumers are not fully and effectly protected, while the financial institutions are more and more powerful. Seeking ways to form a practical and sustainable regular show its objective existence in the study of the system of protection for financial consumers, In this paper, we take the finance managers'rights as a sweet spot, and make an attempt to set up a financial operator's special private legal obligations which aim to protect financial consumers.The financial managers'special private law obligations conclude the duty to explain, duty to advise, obligation of providing qualified products, obligation of unconditional surrender and confidentiality obligation. The duty to explain means that, when contracts are concluded, financial managers should richly exemplify information and other factors which may affect decision making, and answer problems raised by consumers.The duty to advise means that, when selling finance produces, managers should reference to consumer's knowledge, experience, degree of richness and the end of the bargain. Inducement is not allowed. This is the private obligation corresponding to the rights of free choice. The obligation of providing qulified products means products should be qulified and demanded. If products are not qulified, support should be gained when complaint or claim indemnity is come up. The obligation of unconditional surrender means that, by the end of the application period, consumer had right to terminate the contract and to return goods. Confidentiality obligation means no insider shall make public, disclose consumer's information or earn profit by it. These private obligations do not come about independently, rather, they have a common intention, such as guarantee the legality of finance product trade and protection of consumers' rights. They also embody the principle of fair deal and honest&trustworthiness. All of them come down to one thing-general good faith.This paper is aimed at these five obligations above and their responsibilities, by economic analysis and jurisprudence analysis, relevant systems and law text are introduced and analized, which will help us get a complete picture of finance managers'private legal obligations.