The Protection Of Consumer Rights Of Derivatives Trading

Derivatives instrument is the product of the market economy development to a certain stage and the results of financial market innovation. The functions of hedging, risk transfer and speculation of derivatives instrument attract more and more investors into derivatives markets, which made the derivatives markets it become an integral part of international financial market. In the meantime,the professional and complexity of derivatives instrument make the deal risky.With the going on of reform and opening-up and economic reform, financial sector start to recover. With the development of economic globalization, derivatives instrument began to root in Chinese financial market. A set of accessory reform measures of price system,circulation system had been implement, which made some pioneers in the market took the initiative of derivatives markets, and made them enjoy the system dividend. But because of the restriction of social and historical condition and the juvenility of the system reform, the financial sector didn’t go well in the early stage. In other words, starting late and rough road. However, the problems appeared in the derivatives market in turn contribute to the reform of financial market.After the financial crisis in 2008,every country in the world began a new round of reform,most of which involves the protection of financial consumers. Countries with high growth in financial sector, like the USA, Britain, put the protection of financial consumers into the primary goals of financial reform. With the development of national economic level,the material living standard of common people has greatly improved. The traditional saving business can’t meet the demand of the pursuit of wealth of Chinese consumers. For this reason, many consumers moved into derivatives markets. But because of the imperfect laws and regulations and regulatory system, the violations to the consumers’ rights constantly appeared. And there even exits some wide spreading fraud cases with great social influence, which made the financial regulatory authority consider the consumer protection issues.This dissertation is composed of four parts: The first part, the basic theory of the protection of consumer rights of derivatives trading. This part mainly introduces the conception of financial derivatives,rights of financial consumers,and the relevant conceptions and the necessity and particularity of the protection of financial consumers. The second part, the foreign experience of the protection of consumer rights of derivatives trading. This part analyzes the reform experiences of the US, Britain, Japan and the EU and summarizes some enlightenments for us. The third part, the defects of the protection of financial consumers in our country. This part finds out the the problems of the protection of financial consumers in the perspective of legislation of protection of financial consumers and financial regulation of derivatives trading. The last part mainly puts forward the concrete ideas of the protection of financial consumers from the perspective of the perfection of laws, strengthening of the duty and responsibility of financial institutions, and the establishment of Multiple disputes settlement mechanism.