Reflections On The Construction Of A New Financial Consumption Dispute Resolution Institution In China

Along with the rapid development of China's financial market,the number of financial consumers is growing,and financial consumers becomes an increasingly important role in modern finance.However,it is followed by the increasing financial consumption disputes.However,with the development of the financial market comes the growth of financial consumption disputes.Due to the particularity of financial consumption and financial consumers,there are many difficulties in the settlement of financial consumption disputes.At present,China does not define the concept of financial consumer from the legal system,and most of the regulations in the policy documents and management methods for the protection of financial consumers focus on the supervision of financial institutions.In addition,China's current financial consumption dispute resolution in authority,convenience and other issues have a perfect space.Therefore,it is an urgent problem for the financial market to quickly and effectively resolve financial consumption disputes,find an efficient,convenient and easily accessible way for financial consumers to safeguard their rights and interests.The financial ombudsman mechanism is a special system of financial consumption dispute resolution,which has special advantages in solving financial consumption disputes.In terms of the system design,it considers the characteristics of efficiency and convenience,such as independence,flexibility,consumer tilt protection,adopts the dual processes of mediation and arbitration in terms of handling methods,and combines the flexibility of settlement through negotiation with the rigidity of compulsory effect.In contrast,China has not yet had an integrated specialized processing institution,so under the background of financial regulatory reform,considering the establishment of such an institution is not only a need to safeguard the legitimate rights and interests of financial consumers,but also an objective need to improve the financial market system and ensure the healthy development of the market.This paper is divided into five parts:The first part is the introduction,which mainly explains why to choose this topic and the significance of topic research,classifies and analyzes the collected literature,summarizes the research status and introduces the research methods of this paper.The second part is mainly an overview of the dispute resolution mechanism of financial consumption,and the definition and analysis of some important concepts,including financial consumption and consumers,financial consumption disputes and their particularity.And it will elaborate the current situation of China's financial consumption dispute resolution mechanism,mainly in what mode,what specific solutions,what problems exist.Finally,this paper will analyze the development trend of the reform of the dispute resolution mechanism based on the design of the current dispute resolution system in China.The third part is a comprehensive description of the British financial ombudsman system,including its origin and development,legal status,specific operation mode,dispute handling process.And this part will analyze its characteristics and advantages,investigate the system in the design of what emphasis points for the following parts.The fourth part analyzes the necessity of establishing a financial consumption dispute resolution institution in China by referring to the design focus of the British financial ombudsman system,and combine the characteristics of the financial consumption dispute elements and the deficiencies of the current settlement mechanism proposed above.Finally,this part will put forward some suggestions on how to establish institution,including procedure,cost,effectiveness and other issues.The last part is the conclusion of the paper,which briefly summarizes the previous content and prospects the future research.