On The Legislation Of The Protection Of Financial Consumer’s Rights And Interests In China

With the development of society and economy, finance consumption increasing depth into the lives of consumers. Financial products and services compared with the general consumer goods and services, but with a high risk of professional complexity and benefits. Financial consumer compared to financial institutions, in a "natural weak position", there is a serious information asymmetry between the two, vulnerable to violations of their legal rights. Financial Disputes growing, on the one hand reflects the financial consumer awareness of the rights of awakening, it also reflects the public to strengthen financial consumer protection legislation increasing demands, therefore, the financial consumer legislation be tilted nature protection, improving our existing regulatory system and strengthen financial consumer protection is particularly important.In our current legislative system, neither a special law on financial consumer protection, the concept and the legal status of financial consumers is not yet clear. March 15,2014 the formal implementation of the "Consumer Protection Law", although to some extent strengthened the protection of the rights of consumers and to strengthen the obligations of operators, administrative authorities and consumer associations bounden duty, but only rely on the law, "consumer Protection law" and finance basic legislation does not solve our separate supervision and mixed financial dispute that arose in practice disputes. If the long-term neglect of financial consumer protection, financial markets will inevitably destroy the balance, affecting the stability of the financial sector.After the financial crisis, the financial consumer protection has become the focus of national financial legislation reform. Re-regulation of the financial status of our legislation in light of consumer protection for the outbreak of the financial Dispute potential problems. At present, China scholars from abroad in financial consumer protection system reference, based on the concept of financial consumers, legal status and protection mechanisms conducted extensive research on financial consumer protection has played a positive role in promoting. On this basis, the synthesis of each theory, to protect the rights and interests of financial consumers weak real plight and problems were discussed, namely the regulatory gaps and overlaps and loopholes in legislation reflects on the lack of financial consumer protection and learn from developed countries and regions, legislative technique and experience in financial consumer protection, financial regulators clear responsibilities for financial consumer protection and functionality for financial institutions supervision, improve financial arbitration system, micro-litigation and litigation on behalf of building human system, for our financial consumer protection proposals.