On The Legal Protection Of Chinese Internet Financial Consumer

With the continuous development of the Internet and big data,the Internet financial company has impact on the traditional financial industry, and expands to the core areas of the financial industry. However, the specificity and professionalism of the internet financial products has hindered the protection of internet financial consumer, and be confronted with various products and services consumer's the right to information, the right to safety, the right to be chose and the right of fair trade has been damaged.In this context, the article focused on the risks that the financial consumers have to face with in the development of internet finance, analyzing these problems through historical analysis, empirical analysis and comparative analysis ways. Making a number of ideas and suggestions on the legal protection of Chinese internet financial consumer by referencing the relevant legal system and protection function in U.S, UK and Japan.The introduction of the paper is mainly focused on introducing the internet financial development in China and pointing out the problems and risks arising due to the lack of relevant legislation and supervision of internet finance, the internet financial consumer's lawful rights and interests therefore suffering from this. Meanwhile, making a literature review on internet financial consumer protection in domestic and overseas.The first chapter generates the background of internet finance including: big data,cloud computing, mobile payment, the social network and the theoretical foundation of the internet financial development. This chapter also introduces the main mode of internet finance including the third party payment, internet banking, P2 P, crowd funding respectively in details; From the perspective of “the essence of internet finance is finance” to define “the internet financial consumer” and discuss the characteristics of internet financial consumer from all respects; Demonstrating the necessary of internet financial protection from 3 points including: the professionalism and complexity ofinternet financial products, the information asymmetry between the internet financial trade subjects and the unequal status between the internet financial trade subjects.The second chapter based on the risks that the internet financial consumer confronted with. First, on the foundation of analyzing the several important legal rights including: security rights, right to know, self-choice right and fair dealing right,discussing the problem and current situation that the internet financial consumer faced with.In chapter three elaborate the legislation and regulatory status quo of US, UK, and Japan, making a brief discussion on three important classification criteria: third party payment, P2 P and crowd funding.The fourth chapter emphasizing the recommendation of improving the internet financial consumer protection system, from six aspects including: add the definition of financial consumers in the "Consumer Protection Law", establish the access system of qualified investors, clear the obligations of internet financial industry and risk information disclosure, conduct diversified dispute settlement mechanism.