Research On The Suitability Obligation Of Network Financial Platform

Under the circumstance that internet finance is universal finance,internet finance realizes financial disintermediation,mixed operation under internet finance becomes normal,and financial technology remolds financial business mode,the discussion on how the network financial platform provides suitable financial products and services to the suitable network customers under the network environment has been triggered.Although Chinese financial market has basically established suitability investor management system,but its lack of network environment,and special provisions with respect to fulfilling the suitability obligation to the network financial platform,in view of this,the main research object of this paper is the suitability obligation of the network financial platform,composed of the introduction,text,conclusion,of which the text includes the following five parts:The first part analyzes the emergence of the suitability obligation of the network financial platform.First of all,the paper analyzes the specific situation of the network financial platform's suitability obligation as well as the conditions of network“recommendation” and “investment suggestion”.Should pay attention to the content,background,presentation of specific network information and whether to form a personalized relationship with customers.Secondly,it defines the subject of the suitability obligation of the network financial platform.Based on the analysis of the existing laws and regulations in our country,it sums up the network financial platform which needs to undertake the suitability obligation under the existing laws and policies,including the network financial products sales platform,the third-party distribution platform,intelligent investment platform and so on.The second part discusses the main content of the suitability obligation of the network financial platform.The complete content system includes:(a)the obligation to understand the customers,including the factors that should be considered in the Internet electronic questionnaire,the mechanism to solve the inconsistency of customer response under the network environment,and the classification of Internet customers;(b)the obligation to understand the products,including financial products,algorithms,the classification of financial products sold on the Internet and the establishment of algorithm monitoring and evaluation mechanism;(c)the obligation to assess appropriately,including that the network financial platform should match the network customer with the financial products and service in accordance with the legal standard and establish the appropriate mechanism to filter out theinappropriate customer;(d)the obligation to disclose information,including that the network financial platform information disclosure should pay attention to the characteristics of the majority of network customers belonging to network financial consumers to enhance the customer experience of information disclosure;(e)the network financial platform should introduce technical means in the fulfilment of suitability obligation,adopt algorithms to achieve accurate matching of products and services with customers,and use large data technology to obtain accurate customer's portrait.The third part analyzes the distinction of the suitability obligation of the network financial platform.Firstly,it analyzes the types of suitability obligations of different network financial platforms.It is concluded that the essence of intelligent investment platform shall be the investment consultant,which provides investment advice to clients and undertakes suitability obligation based on fiduciary duty in asset management process.Secondly,it makes a specific distinction between the network financial products sales and the suitability obligation of the network financial platform that provides investment advice and asset management services.The suitability obligation of intellectual investment advisory should meet the need of comprehensive and proper information disclosure together with the continuous investment strategy rebalancing.The fourth part discusses the remedy of the suitability obligation in breach of the network financial platform.It analyzes the civil liability of the platform operator from two perspectives of tort liability and contract responsibility.Firstly,it discusses whether the platform operator shall assume tort liability for its breach of legal obligation resulted from its violating appropriate obligation,then discusses the possibilities of violating the liability for negligence in contracting and the faith obligation from the perspective of contractual relationship.The fifth part puts forward some legislative suggestions to perfect the suitability obligation of the network financial platform in our country.First of all,it evaluates the current legal system of our country.At present,the existing legal issues include the biased orientation of the institutional concept and the lack of suitability legal system of obligation under the network environment.Secondly,it offers some legislative suggestions on perfecting the system of the suitability obligation of Chinese network financial platform,including the rational positioning of the system of the suitability obligation of the financial platform of our country,and in the improvement of the specific system,formulates specific normativedocuments to clarify the production of the appropriate obligations under the network environment,the content of the suitability obligation of the network financial platform,distinguishes the suitability obligation of different network financial platforms,promotes the financial legal level and realizes the integration of financial law to provide a strong legal basis of personal force relief for the network financial consumers when obligation is violated.