Research On Legal System Of The Financial Consumers' Rights And Interests Protection

The rapid development of the financial industry for half a century, or regional, or global financial crisis, many countries in the world come to realize the importance to protect the financial consumers who are in weak position, strengthening financial consumer protection should be the top priority of financial reform.In China, as the economy continues to grow, disposable income is increasing year by year, financial consumption is increasingly becoming an important factor on the impact of the long-term health development of our national economy. At the same time, because the asymmetry on power between the financial consumers and financial institutions, the lawful rights and interests of the financial consumers who are in weak position are against from time to time, but because of the laws on financial consumer protection which have many deficiencies, financial disputes can not be solved through the fair, reasonable and quick ways, the results largely affect the financial consumers' enthusiasm and the healthy development of financial industry. Therefore, the strengthening of financial consumer protection should be the urgent task and core content of Chinese financial reform in the future.This article researches the legal system on financial consumer protection from four aspects.Firstly, this article analyzes the basics of financial consumers, including the concept, characteristics, interest of the financial consumers, the theoretical basis and need of financial consumer protection. This section offers the theoretical and practical issues for the studying problem;Secondly, this article analyzes the British Financial Services and Markets Act of 2000, the United States Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Japan Financial Products Marketing Act of 2001 and Financial Instruments and Exchange Act of 2006, and Australian Financial Ombudsman Service Office(FOSO), and summarizes the reference to our country as the result;Thirdly, this article assesses on Chinese current financial consumer protection laws, regulations and related systems, which point out that China is still exist on the awareness of financial consumer rights protection, relevant financial legislation inadequate, lack of institutions dealing with disputes, narrow channels of judicial relief and poor financial self-discipline; Finally, this article gives recommendations to the problems, in order to perfect the laws and related systems, realize all-sided protection to financial consumers, financial consumers should be given legal position, and establish a complete-systematic legal system on financial consumer protection, establish non-litigation and litigation financial dispute resolution mechanisms, perfect the financial industry self-discipline system.