Research On The Legal System Of Financial Consumer Rights And Interests Protection

Select the legal system of financial consumer right and interests protection as the object, take the definition of the concept of financial consumer as an entry point and the financial consumer protection as the mail line with the asymmetric information of the financial markets as the basic study points to dissertate the rights of financial consumers and give the choice on the path and legislative conception for China’s financial consumer protection. For the issue of the choices on the path of financial consumer protection, the author proposes administrative regulation and civil reliefs as a parallel mechanism according to cases of financial consumer rights’violations. It believes that the protection of the rights of financial consumers can’t be achieved through any single means and methods. Executive powers of financial supervision can be considered in the exercise of the rights of consumers as an indirect protection means. Meanwhile, for the actual situation of financial consumer rights damage, we should understand the financial needs of consumers, and introduce the most practical and constructive securities antifraud provisions of the general area of fraud in financial markets to the regulatory system. Giving the private rights to appeal claims to those consumers whose rights damaged by fraud as the realization of one of the paths of the protection of the rights of financial consumers. Accompanied by the appropriate classification of financial consumer and disputes resolution system of financial consumers and financial compensation mechanism for consumers, we can design and build the financial multi-tiered system of protection of financial consumer rights. Finally, the evolution path of one country’s legal system of financial consumer protection relies on its political、economic and cultural systems. Based on China’s legislation and practice, building the legal system of financial consumer protection meeting the needs of China’s financial markets through the enactment of the Financial Consumer Protection Act, the establishment of specialized financial consumer protection agency、the parallel paths of the administrative supervision and realization of private rights is a reasonable choosing path for China’s legal system of financial consumer protection.