On The Legal Protection Of Financial Consumer Rights

As more and more financial products and financial services into all aspects of social life, consumers in order to meet their own financial consumer demand began to intervene in all areas of the financial market to buy financial products, financial services provided at the same time widely accepteda wide range of financial services, the concept of financial consumers have gradually been accepted. Development of financial markets, can not do without the active participation of financial consumers, and protect the legitimate rights and interests of financial consumers, maintain financial market order, deepen financial reform is an important guarantee. In the context of the financial crisis, the Western developed countries for financial consumer protection, has taken different regulatory measures to accelerate the development of financial markets in China, but also must pay attention to the financial interests of consumers protection. At present, China’s protection of financial consumers is relatively weak, there are many defects in the relevant legislation, financial regulation and financial dispute resolution mechanism, China should continue to improve relevant laws and regulations to improve the rights of financial consumers rights protection mechanisms, through financial education to strengthen the financial awareness of consumer rights, and so on.Based on the theoretical analysis of the concept of financial consumers and defined, learn from the advanced experience of developed countries in the Anglo-American financial consumer protection, combined with the actual situation of our current financial consumer rights protection, consumer rights protection system to build and improve our financial make recommendations. The paper is divided into three parts:The first part is the theory and practice of analysis of the financial protection of consumer rights. First, consumers and financial consumers connotation and extension of the definition, the comparative analysis to illustrate the special nature of financial consumers, consumer groups; Second, to focus financial consumers most fundamental and important right to information and privacy analysis; once again, from a theoretical point of view, a concrete analysis of the doctrine of "social stratification","lemon market" theory, the theory of "negative externalities" effect in financial transactions, highlighting the theoretical basis of the financial consumer protection; Finally, from a practical point of view specific analysis of financial innovation and development, deepen the mixed operation, highly technical professional, asymmetric information, the actual situation of consumer litigation difficult, regulatory gaps and conflicts challenge from the financial protection of consumer rights, highlighting the practical foundation for financial consumer protection, which set a solid theoretical and practical support for the financial protection of consumer rights.The second part is the status of Britain, the United States and China’s financial consumer rights protection. First Anglo-American financial consumer protection of the rights of the status quo in developed countries were analyzed, including legislation, financial regulation and financial settlement of disputes; followed by analysis and explanation of the problems in China’s financial consumer rights protection, China’s major legislative, regulatory and financial rights of consumers relief deficiencies related system is imperfect.The third part is the improvement of China’s financial consumer rights protection system Mainly from the perfection of the legislation, reform of financial regulation mode as well as financial dispute resolution mechanisms and other aspects, combined with China’s actual situation, it is recommended that the concept of financial consumers be clearly defined by law; from the traditional sub-sector regulatory approach to the functional regulation mode transformation, the establishment of specialized financial consumer rights protection agencies; financial dispute resolution can be considered to improve the financial arbitration system to enhance the professional standards of financial justice personnel, and enhance financial consumer education to improve the financial dispute resolution approach.