On The Protection Of The Financial Consumers Rights In Legislation

With the development of financial market and financial legal system, we should protectfinancial consumers. However, it is imperfect in concept, principles, model and contentabout protecting financial consumers of our financial legal system. So the protectingfinancial consumer is the fundamental purpose of research.First, the paper elaborates the theory on protection of financial consumers’ interests,such as the definition of the connotation and denotation of “financial consumer”, thecontents of the rights and interests of financial consumers and theoretical basis and practicalbasis the legislative protection of the financial consumer. The paper focuses on severalspecial rights of financial consumers, that is, the right to financial information, financialprivacy, fair trade, and claim.Second, the paper discusses the legal situation of the financial consumer protection, forillustrating the problems of China’s financial consumer protection. Based on the analysis ofthe status of the specific rights of the financial consumer protection, the paper discusses thedefects of the legislative system and the lack of legislative content of the financial consumerprotection, in order to provide the perfect angle to China’s financial consumer protectionlegislation.Again, the paper analyzes the legislative mode content and outcomes of the financialconsumer protection of the United States, Britain, Australia and Japan and other countries,which provides the legislative reference to improve the financial legislation.Finally, the paper discusses the perfect way of the financial consumer protection. It isrecommended to take a model of coexistence of the Securities Act and the Financial ServicesAct on legislative model. And it is necessary to define the concept, legal status and basicrights of financial consumers, improve the organization of the financial consumer protectionand the financial consumer rights relief mechanism.