Research On The Legal Issues Of Internet Financial Consumers' Rights And Interests Protection

Internet finance is a new industry developed on the basis of traditional finance,and its development speed is amazing.Its emergence is a major innovation in China's financial field,opening a new chapter in the development of China's financial industry,which not only brings great convenience to people's lives,but also promotes the overall economic development.However,the complexity of Internet financial products have led to a series of infringements on consumers.The "e-Rent Treasure" incident is a wake-up call for us to strengthen the protection of the rights and interests of Internet financial consumers.There are still many deficiencies in the theoretical research and practical application of this aspect in China,and further research is needed.The main research methods used in this paper include empirical analysis and comparative analysis,analyzing the current situation and existing problems of the protection of consumers' rights and interests in Internet finance in China,and comparing the practices of foreign countries which are at the forefront of the development of Internet finance to protect consumers' rights and interests,and then putting forward their own suggestions on improving the protection of consumers' rights and interests in Internet finance in China.The first part of the article introduces the background and significance of the topic,the research summary of scholars at home and abroad and the main research methods and innovations used.The second part is the theoretical basis for the protection of consumers' rights and interests in Internet finance.Firstly,this part defines the concept of Internet financial consumer based on the concept of traditional consumers and scholars' viewpoints.Secondly,it discusses the necessity of protecting the rights and interests of Internet financial consumers from three aspects: the professional characteristics of Internet financial products,the asymmetry of information between the two sides of the transaction and the unequal status.In the third part,through the analysis of the "e-rent" incident,the author points out the common problems existing in the protection of consumers' rights and interests in the field of Internet finance in China,such as the imperfect legal protection of electronic contracts in the process of Internet financial transactions,the inadequate protection of personal information,the opacity of financial information,and the difficulties in safeguarding the rights of Internet financial consumers.The reasons for the above problems are analyzed as follows: there is no special legislation for the protection of consumers' rights and interests in the field of Internet finance,the regulatory system is not perfect,the dispute resolution mechanism is not convenient and efficient,and consumers' awareness of safeguarding rights is weak,and it is difficult to safeguard rights.The fourth part is the extraterritorial investigation of the protection of consumers' rights and interests in Internet finance.By analyzing the legislation,supervision system and dispute resolution mechanism of the United States,Britain and Japan on the protection of consumers' rights and interests in Internet finance,we find that there are many valuable references for us to learn from foreign advanced practices,which is of great significance to the improvement of the legal system in this field in China.The fifth part is the suggestions to improve the protection of the rights and interests of Internet financial consumers in China,which is also the key content of the article.According to the situation of our country and the Enlightenment of foreign countries,this paper puts forward suggestions in four aspects: legal system,supervision mechanism,dispute resolution mechanism and strengthening consumers' awareness of safeguarding their rights.In terms of legal system,we should formulate a special financial consumer protection law,and regulate and improve the existing legal system related to consumer protection.In terms of regulatory system,we should adopt the regulatory mode of coordination between institutional supervision and functional supervision,strengthen information disclosure,adhere to transparent supervision,and thoroughly implement the concept of prudent supervision.In the aspect of dispute resolution mechanism,we should construct diversified dispute resolution mechanism,including introducing financial appeal commissioner system and improving non-litigation mechanism;establishing online dispute resolution mechanism to improve work efficiency and shorten the time of dispute resolution;innovating in traditional arbitration mode to promote online arbitration mechanism.Although the establishment of the national system is important,consumers' awareness of protecting their rights needs to be improved.Weshould popularize the knowledge of Internet financial business and strengthen consumers' awareness of protecting their rights and interests.