Research Of The Experience Of Wealth Management And Consumer Protection

After the crisis, strengthening the international financial regulatorysystem reformation has become a priority of governments reformation,especially the countries which were severely affected in the crisis endeavor tofine a new balance between the wealth management business innovation andfinancial market stability. This paper aims to study the reform ideas andconcepts on consumer protection in wealth management business inEuropean countries, providing a useful reference for our consumer protectionrelated works. This paper outlines the development process, current situationand the experiences and practices of the regulatory reforms in the USA, UK,the European Union and Hong Kong wealth management. It also outlinesinstitutional setting, aspects of the business areas, product design,information disclosure, sales practices, etc. Suggestions have been made thefollowing eight areas:Enhance information disclosure;Improve consumerprotection mechanisms;Promote orderly market competition;Define cleartarget market and target customer base;Conduct stress tests;Prevent andmitigate marketing risk;Strengthen post-sales services;Strengthen functionalsupervision.