Study On The Protection Of The Right To Know Of The Financial Consumers In China

With the breaking out of the international financial crisis in 2008, what people have to accept is not only the losses of their fortune, but also a profound consideration on the problems brought out by the speedy development of the financial market. And the key point is to pay attention to the protection of the financial consumers.For the financial products become increasingly diversified as well as specialized, the information asymmetry between financial institutions and financial consumers is becoming more and more serious, which leads more mislead and deceive sales behaviors. As the fierce competition in the financial market, the financial institutions always emphasis on product performance and neglect or even deliberately not to consider consumers’ understanding of the financial products in the process of providing goods and services, and the infringement of the consumers’ right to know is being more serious. In order to improve the healthy development of financial market, strengthen its ability to cope with the crisis, financial protection of consumer’s right to know as the basis of financial consumer rights protection must be sufficient attention.In this paper, in order to complete the financial protection of consumer’s right to know detail is divided into four parts. First, in order to give financial consumers’ research on the protection of rights to provide basis, the first chapter of this paper takes impressions on "the concept of financial consumer", which emphasizes on the relationship between financial consumers and investors which also for the right to do a full preparation. Then in the second chapter is to discuss the importance of the rights as well as the right to know theory and the content of the right of discourse. In the third chapter respectively from the aspects of financial legislation(banking, securities, insurance), financial supervision level and judicial relief layer facing the situation and problems in protecting the right to know is analyzed, discusses the combination of before the end of the fourth chapter of this paper, put forward for the protection of the right to know some of the recommendations and ideas.To improve the protection of the right to know the financial consumers in China, the author thinks that can start from the following four aspects: firstly, in legislation to establish the concept of financial consumers, the first increase in the revision of the "consumer protection law", in legislation to establish the concept of financial consumers, increase the financial consumer protection in the "revision of the consumer rights and interests protection law", and in the financial sector legislation to improve the financial consumer protection legislation aims and principles of height. Secondly, by improving the financial institutions of the explanation obligation and duty to disclose information to regulate their behavior, and the provisions of the civil liability for breach of the, further increase the punishment. Thirdly, about the right to relief, just to open the litigation and non-litigation ways, and treatment of non litigation supervision and feedback. Fourth, in the financial consumer education, led by the regulators, and Consumer Protection Committee of independent financial, let its regular survey of financial consumer protection issues, according to the situation of regulatory proposals.