Legal Protection Of Financial Consumers' Right To Know

With our country economy sustained steady growing and residents' living standard increasing day by day, the financial market in China is entering a new period of rapid development and economic prosperity, personal demand for financial products and services are also increasing year by year, natural persons groupsin the field of finance is growing.With a diversity of innovative financial products are continuously introduced by financial institutions,financial consumers are lack of basic understanding of financial products and serviceswhen faced with a choice, combined with the improper marketing behavior of marketing personnel, financial institutions tend to generate impulse blindness financial transactions, such as in the process of promoting financial commodity, the specification is not real and non-standard induced behavior, financial institutions, and financial institutions collect fees in disorder, do some mandatory advertising to violate consumers' legal rightswith its dominant position and utilization of format terms.Between legal system and the actual economic development, however, there is still a certain gap, and the relevant guarantee measures did not follow up in time, which result in the consumption problem being severe in the financial sector in recent years. Financial consumer protection is an extension of consumer protection in financial field, its core is the protection of consumer financial entity rights.And the financial consumers' right to know is the basis of real rights, so the protection of financial consumers' right to know is beneficial to strengthen consumer confidence in the financial system, so as to maintain the stability of the financial industry development.Although in 2013 the new revised "Law on Protection of Rights and Interests of consumers" article 28 in the first time in the form of law clear the financial consumers right to know, but in the face of increasingly complex financial products and services, the government should ensure the maximization of financial consumer rights and interestsfrom establishing legislative concept, strengthening the financial supervision and strengthening demonstrative obligation these aspects.Except preface and conclusion, this article is mainly dividedinto four parts to study and analyze the problem of the protection of the financialconsumers' right to know in our country.The first chapter has carried on the analysis to the concept of financial consumer, and has carried on the induction to the controversy of the concept of financial consumer, including whether the body of the financial consumers should be limited to natural person and the relationship between financial consumers and investors.Clarifying the concept and content of financial consumers' right to know and introducing the need for special protection of financial consumers' right to know.The second chapter mainly inspects the United States, Britain, Japanthese three developed countries' legislation practiceabout the financial consumers' right to know, and put forward references for the improvement and developmentof the consumers' right to know in our country on the basis of analyzing the foreign advanced legislative experience. The third chapter put forward some questions when the deficiency was found in the process ofcurrent legislation of our country's financial consumers' right to know.The fourth chapter put forwardsome suggestionsin view of the problems of the present legislation proposes to perfect the financial consumers' right to know, including the establishment of financial consumer protection legislation guiding ideology, implementing moderately sloping protection principle, perfecting the financial consumer protection rules and establishing special financial protection agencies and financial education institutions and improve the financial consumer dispute resolution mechanism in China.