The Research Of Disclosure Duty Of Banks

With the development of economy,the commercial bank businesses are expanding, no longer constrained by the national funcitional of savings and deposits. Especiallly after China’s accetion to WTO,under the pressure of foreign banks the commerical banks have to break through the traditonal businesses by the bancassurance, bank securitier and cooperation between trust and bank which are in market, produce and servece acted as the core for the business growth. Credit, insurance, fund, financial, securities, and so on are included in the bank, peremptory a financial department store supermarket. The deposit of the common people is becoming more and more and demand of people is no longer limited to bank deposits. All these lead to the bank’s innovation. Dramatic changes have taken place in the financial world, but our law was failed to keep pace with the development of the market. The banks are often in a commanding position and consumers are difficult to deal with when consumers and Banks establish a legal relationship because of the high professional and complexity of the financial products. In order to achieve substantive equality of the contract and balance the libra of trade and eliminate the gap between consumers and banks, let the banks undertake the disclosure duty, that can play important role of realizing the healthy development of banking businesses, establishing the trust betwween both parties, maintaining stability of the financial market and protecting leagle rights of financial consumers.This article discusses mainly the disclosure duty of the commercial Banks. Part i is mainly introducing the general situation of the disclosure duty of the banks. That is including of definition, the reason why the banks ought to undertake the disclosure duty, the sope and the object of the disclosure duty and concept of financial consumers. The performance of the duty should be the combination of oral and written in order to ensure that consumers undersstand. In addintion, the article is introducing the suitability rule, that is the basic principle when the bankers recommend the banking prduct to the consumers. Part ii is mainly introducing the types and civil liability of breach the disclosure duty. The the types of breach the disclosure duty are mainly including misrepresentation, concealing important matters and provided judgment. Partiii is mainly making comparisons with the leagle system of Japan, American, European Union and TaiWan so as to provide advice on our country’s legislation. The last, the paper gives some propositions on the perfection of the dislousure duty of the banks. We should improve legislation as soon as possiple and from all aspects(financial supervision, the banking self-regulated organizations and consumers themselves) to complete the fulfillment of disclosure obligations.