The Research Of Law Problems On Structured Finance-management In Commercial Bank Of China

With the sustained economic development and the improvement of people’s living standards, more and more attention has been paid on the personal finance-management in the commercial banks, one way of the major finance-management. In recent years, owing to the financial crisis, the capital market goes down all the way, leading the frequently exposed phenomenon of "zero income" or even "negative gain" in the financial products. A large number of public complaints and legal disputes also begin to rapidly increase for the sales of the finance-management. Among the disputes above, the structured finance-management covers a large part. The fundamental factors, which cause an increase in legal disputes, consist in the non-standard design and the incomplete information disclosure. And the lack of consumer rights relief channels, making it even more difficult to be protected.In the product design, due to the complexity of the design, the shortage of independent technology and staff and the low market threshold, leading to the great variety of the structural financial products on the market; in the sales process, due to the uncertain standard for information disclosure, the incomplete information disclosure, and the shortage of risk warning, resulting in frequent damage to the interests of consumers; in the dealing of disputes, due to the imperfect law regulations for the products, the lack of relief channels, resulting in the rights of consumers is difficult to get relief. Now the CBRC and commercial banks should regulate the structural design of structured financial products, improve disclosure obligations and the channel of the consumer rights remedy, all of which are the current main tasks of them.Learned from the success of the protection for consumer rights in United Kingdom and the United States, combined with the reality of banking industry in china, from the perspective of the protection for the financial consumers’interests, the regulatory authorities should change the concept, and establish a sound system. For example, the establishment of the concept of financial consumers, and the improvement of the approval system for structured finance-management, the setting of the standards of information disclosure. The commercial banks in China should change the concept of the risk prevention, improve the legal system, and transfer from "post to prevent" to "advance guard", for example, the establishment of a sound system for customers’assessment and risk product classification, the setting of the information disclosure system for dynamic products, and the sound establishment of internal complaints institutions for consumers within the bank.