On The Personal Financial Product Of Economic Fraud Regulation

In recent years, China’s banking personal finance products showed a trend of rapidgrowth. However, under the civil law system, fraudulent acts have run rampant in personalfinancial product transactions,for example, complexed designing,misrepresentations,improper inducement.The paper takes the bank fraudulent acts which have againstconsumer’s interests as an entry point, to define the constituent elements, performance andhazards of fraudulent acts. Explaining the theoretical support that we choice economic lawidea to maintenance the rights of financial consumers. Eventually,we depict an economicpath to legislate the fraudulent acts in bank personal finance products, for the realobstacles exist under the economic legislation.This paper consists of four parts:The first part is an overview of fraud in the bank personal financial products. Basedon understanding the meaning of banking individual wealth management products,throughthe analysis of the definition of fraud between civil law and economic law,determine it’selements cognizance. Simply statements it’s performance and harm at the end of the paperto increase awareness of the fraudulent acts.The second part is the theoretical basis on bank personal finance products under theregulation of economic law.Put forward the idea that economic law is more suitable forpersonal financial products regulation than civil law. And we support the point from fouraspects:the essential attribute of economic law, the hypothesis of "economic man" theory,banking and investor’s legal relationship and the defects of civil law system.The third part is the analysis of obstacle in regulation of personal financial productsof bank fraud under economic law. Relevant laws and regulations also have many gaps,contradictions under the economic law framework. There are real obstacle, systemobstacle and obstacle of lawsuit,To provide a smooth operator rights we have to removethese obstacles for consumer who have be fraud. The fourth part puts forward the regulation path for personal financial products ofbank fraud behavior under the economic law concept.In the light of the analysis in thethird chapter,discussing the corresponding measures.Perfecting financial transactions inthe consumer protection system, consumer protection—financial legislation linkage,improvement of banking supervision mechanism, using the economic law thinking toprocess the relevant disputes.