Research On The Legal Issues Of Financial Product Information Disclosure In Commercial Banks

In recent years,with the continuous development of the economic level,people's material living standard has improved significantly.More and more people have invested their spare funds in the financial management market because of the low entry threshold and high security.Finance products are more likely to be favored by investors.According to "China Banking financial market report(2017)" the end of2017,the balance of banking financial products in the whole country was 29.54 trillion yuan,an increase of 490 billion yuan over the beginning of the year.The scale of banking financial products is huge,and there are also many financial disputes emerging.Most of them are caused by inadequate disclosure of bank information and infringement of consumers' right to information.In terms of legislation,the level of laws and regulations on consumer protection are relatively low in the legislative hierarchy,the content is more general,vague and lack of pertinence There are no relevant laws and regulations on civil compensation Although "The law on the rights and interests of consumers",promulgated in 2013 stipulates the protection of financial consumers,but some specific protection and punishment measures have not been mentioned;At the regulatory level,the regulatory system is not conducive to the supervision of financial institutions,and the current regulatory model lacks the definition of qualified investors.At the judicial level,the non-litigation mechanism is defective and the burden of proof is unreasonable in the sales of financial products,sales personnel are uneven,false propaganda misleads consumers to unreal purchase,and the internal complaints mechanism of the bank perform practically no function.These are not conducive to the protection of the legitimate rights and interests of consumers.Commercial bank financial products continue to promote innovation,the relevant legislation is not perfect,we should establish a long-term effective risk prevention mechanism to ensure that commercial banks fulfill financial product information disclosure obligations.This article mainly analyzes the institutional basis of commercial bank financial products,studies the necessity of commercial bank financial management product information disclosure,in the regulation financial product information disclosure question,according to bank financing operation mode and based on the practical experience of information disclosure of financial products in foreign banks,some legal suggestions on information disclosure of financial products in Chinese commercial banks are put forward.Specifically: Firstly,put forward the lack of information disclosure Starting from the case of financial disputes,analyze the commercial banks financial products information disclosure problems,and the second section introduced the current situation of commercial banks financial product information disclosure,following thebasis of the institutional basis for commercial banks financial products information disclosure obligations.Secondly,an overview from the connotation of the commercial bank financial management product information disclosure to clear commercial bank financial management product information disclosure content;Then on the basis of economic system and legal system the relationship between commercial banks and consumers of rights and obligations is analyzed;finally from the content of laws and regulations and information disclosure time,the necessity of commercial banks financial products disclosure is analyzed.Thirdly,from the angle of legislation,supervision,judicature,concrete operation,analyze the legal problems of financial product information disclosure of commercial banks in our country.Fourthly,in view of the problems raised in the third part and combined with the experience of foreign mature countries,the author puts forward several suggestions on the information disclosure system of Chinese commercial banks.