Research On Legal Regulation Of Personal Financing Business In Commercial Bank

In recent years, China’s rapid economic development, personal wealth accumulationtendency to expand, the demand for professional financial management is also growing.Based on this, China’s major commercial banks have carried out personal financial services,and as one of the main source of profits. But on the other hand, expanding financial services,financial products constantly updated, it is accompanied by the generation of legal disputes.Because of China’s commercial banks personal financial services in more developed countriesstarted late, so the financial market is not yet mature, relevant laws and regulations are notperfect, but also did not establish a specific system, such as the relationship between thenature of the legal definition of financial products is not specifically, commercial banksduring the information disclosure is not sufficient, the legitimate rights and interests offinancial consumers are not protected and so on. Therefore, some of the relevant legal systemshould be supplemented and modified in a timely manner, separate operation managementmodel should be reformed in order to adapt to the development of financial markets, whilepromoting innovation and personal financial products. In view of this article for the currentpersonal financial services of commercial banks the problems, made recommendations tofurther improve our personal financial system.The main body of the article consists of four chapters, the first chapter is mainly onpersonal financial services are introduced. The main analysis of the legal nature of thefinancial services and improve the personal financial business sense. For the nature offinancial services, the academic world put forward a different point of view, this paper carriedout the various viewpoints assessment, and on this basis, proposes to define the different typesof financial products legal in nature, not all financial products will be classified as a classdefined. Secondly, discussed in the current environment, improve our personal financialservices legal regulation of significance, the main financial environment from the risks thatexist to protect the interests of bank customers and to promote innovative financial services toillustrate three aspects.The second chapter of our current personal financial situation and the need for legal regulation exists for improvement were discussed. A specific example from the legislativeenvironment, financial environment, the bank itself and other aspects are described, such aslow-level legislation, market access mechanism is imperfect, imperfect information disclosureof commercial banks as well as the right to information and privacy of customer protectionissues, and then to the analyze the causes of problems, mainly discussed three aspects, namely,the lack of legislative level, as well as legal and regulatory shackles regulatory model and thepresence of cross vacuum. Through the cause of the problem in-depth analysis, we can bemore effective for the current issue of personal financial services that exist to find the rootcause, which made more reasonable proposal.The third chapter is the introduction of personal financial services in some countriesoutside of the legal regulation. This chapter introduces the developed personal financial legalregulations, the United States, Britain, Australia and Japan, for example, were analyzed intheir respective legal systems and regulatory systems under development trend of thedomestic financial sector formed. Meanwhile, for the advanced experience of the personalfinancial analysis, our country can also be a reference in some ways, the success of itsfinancial management experience and is currently on the road some of the features offinancial markets combined. Such as the United States to implement a dual regulatory modeland unique self-regulatory mechanisms; UK commercial banks to implement comprehensivecustomer-centric financial services; Japan in the law to be clear on the obligations ofcommercial banks need to take to ensure that the client from the legislation legitimate rightsand interests enjoyed; Australia implement multi-regulation in order to achieve mutualcoordination and oversight role. Advanced experience in these countries, both for the future ofcontinuous development and innovation of personal financial services played a good role inthe guidelines.The fourth chapter of China’s commercial banks to improve legal regulation of personalfinancial services offer a few ideas. This chapter describes the three aspects, the first tointroduce as soon as the relevant laws and regulations on commercial bank personal finance,so in reality the problems can be done according to the law, it also allows the main partiesabout their rights and business practices to reduce the incidence of disputes. Secondly,describes the current regulatory mechanism should the current development of appropriate financial services, and our regulatory approach is not conducive to further expand the wealthmanagement business, so to build a model of mixed system should be explored. Again, putforward the proposal to establish a customer-centric interests of legal regulation, such as theestablishment of clear rules of market access, the obligation to establish a scientific system ofallocation of rights, personal financial information disclosure and description of mechanismsto improve the protection of clients in the financial system and the right to privacy improvingdispute mechanism. The above recommendations are made, not only conducive to resolvefinancial disputes arise in practice, but also help with the development of innovative financialservices.