Legal Consideration On The Protection Of Financial Consumers Right To Know

After the U.S. financial crisis, the global capital market remains in the doldrumsand the financial market is in tatters. Finance can be described as the core of moderneconomy, the financial consumer protection is not in place, which should be the mainreason triggers the crisis. Financial consumer’s right to know is the basis of the entirefinancial consumer protection. Shanghai emphasis on the protection of financialconsumer’s right to know under the opportunity to establish an international financialcenter. While reviewing the theory and the existing financial system of the consumer’sright to know, we will find the appropriate improvement for the program. Thefinancial consumer will remodel the confidence for financial service and the stabilityand security of the financial markets.This paper is divided into six chapters, about37,000words.Financial consumer’s right to know as the fundamental rights of financialconsumers, which is also fundament of the entire financial consumer rights protectionsystem. The research of the rights themselves is necessary departure, which canidentify problems to have the opportunity for improvement. Row context of this paperis abbreviated in accordance with the above ideas. Firstly, we will and review thebasic theory; secondly, we see the overseas advanced practices and China’s financialconsumers’ right to protection of the status quo; finally, we identify the key points where to have targeted the perfect countermeasures. As follows:Chapter I: The definition of financial consumers’ concept is the core problem ofconsumer protection. This part starts from the basic theory of financial consumers,combining our theoretical and practical understanding of the concept of "financialconsumers" concept and controversial interpretation on "financial consumers". On thisbasis, we will have a clear awareness and understanding of financial consumer’s rightto know.Chapter II: This part will have a view from the cross-disciplinary research onfinancial consumer protection. By basic theory of economics, like asymmetricinformation theory, the efficient capital market hypothesis and "external effects"theory, as well as the theory of law, like the right and the duty coordinated principle,principle of good faith and the value of fairness and justice, which will provide thedepth analysis for the protection theoretical about financial consumers the right toknow. We understand the need to protect of the right to know.Chapter III: This part introduces foreign countries (U.S., UK, Japan, China’sTaiwan region) on legal analysis of financial consumer protection, which is anopportunity for learning from the advanced system of foreign financial consumerprotection and reflecting on today’s financial protection.Chapter Ⅳ: This chapter is the focus of this article. We reflect the status quo ofthe right to know of China’s financial consumer protection, which will help us identifythe difficult situation. We will find the problems from lacking of the concept oflegislative, some significant disadvantages from regulatory and trading system, orshorting of specialized and judicial remedies for different problems. According todifferent problems, we will suit the remedy measures to the case.Chapter Ⅴ: Analyzing the problems to try to reform and exploration, we mustbuild the perfect financial consumers’ right to protection systems from all round view,like ideas, systems, awareness, relief, etc.