The Legal Obstacles And The Perfection Of System About China’s Private Banking

2007was known as the "first year"of the private banking in China. Private banking in the overseas has been in operation for hundreds of years, in recent years, it has also got the considerable development with challenge and criticism in China. In short, the private banking is for high net worth individuals personal or family running senior financial managementbusiness, in variety of the asset management services, insurance services, trust services, tax consulting and planning, heritage consulting and planning, real estateconsulting and other services, has the characteristics ofprivacy, specialization, professional etc.. Since the development ofthe private banking needs very strong business strengthand talent reserves, in addition to foreign banksat present, China’s private banking is mainly operated by some large commercial banks, according to a new report from the bank information net. By2012, there were18commercial banks to set up private banking sector, the number in the establishment of private banking service center or branch is by a total of217. The private bankitself carrying the pilotchannel function of financial innovation, in order to better promotethe reform of China’s financial system, encourage and support the development of private banking, private banking supervision department is mainly take "regulate and encourage,cultivate and improve simultaneously". Now the private banking is no very definite by relevant laws and regulations, the main reference for the public financialregulatory guidelines. This article analysis of legal problems and hidden trouble of the private banking, the relevant legal experience and learn from foreignprivate banking, take some advice on how to solve these problems, hoping to establish and perfect the legal systemis beneficial to the private banking business in China, so as to promote the sustainable development of the health and safety of this business.In this paper the main structure is divided into four chapters, mainly includes the following contents:The first chapter, first obtains from the overview of the private banking business, this paper introduces the content of the private banking business development history, characteristics, and in the current situation of our country, the provided products and services; Then emphatically expounds the definition of relations between China’s private banking institutions and customers; Finally, China’s private banking business in facing the risk and the corresponding risk management system are introduced.Analyzes the development of China’s private Banks face some legal obstacles and bad for the development of institutional factors, this paper expounds in detail the current relevant laws for private banking regulation and the lack of breach of contract dispute resolution mechanism and separated operation system, the anti-money laundering system, information confidentiality system, personal credit system, information disclosure system and situation of the legal and institutional problems such as the negative effect on the private banking business in China, is one of the core part of this paper.The third chapter mainly introduces the Switzerland, the United States and Singapore law about private banking regulation experience, mainly introduced the Swiss about private banking secrecy and anti-money laundering law system and the enlightenment to our country; America’s experience, this paper introduces the current U.S. financial regulatory system, on the legal norm, information disclosure system of the private banking business and personal credit system; In Singapore’s financial regulatory system and also introduced the related information disclosure system.One of the fourth chapter is the core part of this paper, mainly for the second chapter proposed the related problems, analyzing the current operation of the private banking business in China, put forward the corresponding system of laws and perfect suggestions. Aiming at the current financial system of separate operation and supervised respectively, with the world’s major financial power and the world trend of comparative analysis, financial regulatory measures of suggestions on the reform of China’s financial regulatory system. In view of the current private banking business is the lack of legal regulation, and propose the establishment of private banking market access system and some suggestions for related business guide supervision system; For anti-money laundering system, customer information confidential system, personal credit system and information disclosure system factors hindering the disadvantage of the private banking business system, through analyzing the operation of the private banking business is the perfection of relevant suggestions and measures are put forward. Finally, from the guarantee the legitimate rights and interests of private banking clients, the specification of the compliance to promote China’s private banking operations perspective, put forward in the regulation of private banking business introduction of external audit system and establish a private banking legal dispute resolution mechanism.This paper is finished by browsing and reading a large number of relevant materials relating to the private banking business, the insight into the research of our country’s current financial laws and regulations and related system, and combining the current economic and financial frontier dynamic and on the basis of the changes in the laws and regulations. But as an outsider, I must learn more other knowledge as it’s difficult for the general financial professionals who don’t even know much business contact, and due to the current in the private banking business involves legal and institutional factors such as little problems in the present study. I can’t satisfy all people, for example, in view of the trust, foreign exchange, taxation and other issues not covered in this paper, which is a deficiency of this article. But, I still try my bestto put forward my advices about the legal obstacles and the perfection of system about China’s private banking,by my own deeply research, in hope of furthering the legal process of the private banking business in China, so as to promote the compliance of this business operation and long-term development.