| Robo-Advisor,also known as Smart Investment Advisor,is a new form of online investment and financial management.It mainly combines individual investors' investment preferences,expected returns and risk appetite through a series of intelligent Algorithm and portfolio optimization models to provide users with the most fitting investment programs and market dynamics on the rebalancing of asset allocation.Intelligent investment consulting has many advantages.First,intelligent investment consulting can make use of technologies such as big data and cloud computing to reasonably measure the risk based on historical data to scientifically assess the risk appetite of financial consumers and make evaluation according to investors' suitability.Second,smart investment management through the strengthening of the normative management of financial transactions,reduce the financial consumer and financial companies conflict.Third,the application of intelligent investment consulting can improve the management of investment information and consumer information and reduce the disputes caused by asymmetric information.Fourth,intelligent investment consulting can make use of the Internet,with low cost and low threshold,to broaden the scope of services and clients,improve market share and profitability.In addition to the risks of traditional legal significance,smart investment consultingservice also has the dual risks of financial market risk due to its financial features such as intelligence and virtualization.The first risk is the inherent risk in financial markets,including market risk,compliance risk and liquidity risk.The second most important risk is the possible technical risks of Internet operations.Among these two risks,the second risk has a more profound impact on the smart gambling business.This type of legal risk includes the ambiguity of the boundary of the intelligent business investment consulting service,the lack of fiduciary obligation,the discrepancy between the "discretionary account" service of the smart investment consulting service and the relevant asset management regulations,and the lack of legal measurement Standards and basis,the complexity of the smart investment adviser can easily cause the operator to violate the fiduciary obligation and the smart investment electronic format contract can easily lead to the unequal rights and obligations between the operator and the investor.In order to realize the legal optimization of the smart investment consulting business,the author conducts the discussion through the following four aspects: First,the comprehensive application of private law rules and securities laws and regulations to conduct business in the securities market.The second is to impose higher obligations on the platform of intelligent investment consulting.Third,to establish and improve a dispute resolution mechanism for disputes arising from intellectual securities investment disputes.Fourth,we will improve the regulatory laws and regulations supporting smart investment consulting.At this stage,China does not have laws and regulations that match the business of smart investment banking,and is an important issue that regulates the development of smart investment banking industry.Smart investment banking is an important part of financial technology and has changed the traditional way of relying on market price signals as the main basis for investment decisions.At present,the qualitative and legal relationship of China's smart investment consulting is not yet clear,and the overall service level varies greatly.Operators should abide by the due diligence,transparency rules and fiduciary obligations,but the existing laws and regulations is difficult to form an effective constraint on the operator.In addition to changing the trading behavior in the financialmarkets,the mode of investment and the concept of investor financial management,the smart investment adviser also posed a series of challenges to financial security.To this end,should be early intelligence investment into the scope of supervision,emphasis on private law rules and securities related laws and regulations combined with the specific risks of intelligent investment advice to the operator to put forward higher obligations and requirements,and constantly improve the supporting dispute resolution mechanism. |
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