Research On The Legal Issues Of Robot Advisor In China's Securities Marke

Economy is the pillar of the country,the development of economy is inseparable from the innovation of science and technology,the development of artificial intelligence technology is leading a new round of scientific and technological revolution.Xi jinping in the Political Bureau of the CPC Central Committee general secretary ninth collective learning speech stressed that artificial intelligence is leading this round of technological revolution and industrial revolution of the strategic technology,will guide strong "leading wild goose" whole construction machinery has a spillover effect,and accelerate the development of artificial intelligence,is to economic development,social progress,international political and economic pattern,etc,have a significant and far-reaching influence.In recent years,under the strong support of the party and the government,our country's financial showed the trend of rapid development in science and technology,especially the new intelligent technology based on artificial intelligence is becoming a mainstay in the securities market in our country,and the intelligent investment adviser technology is most typical,it USES a series of intelligent algorithm and the theory of portfolio optimization model,the integration of the securities market data resources,according to investors' earnings targets,risk level and style preferences such as the specific circumstances,to provide users with personalized,conform to the actual investment advice,has the advantages of low fees,low threshold,convenient,By the majority of small and medium-sized investors in hot pursuit.However,at the same time,the unclear nature of intelligent investment advisers,unclear legal relationship,incomplete user protection and other issues have brought more challenges to the regulation.Content of this article is divided into four parts,the first part is the introduction,the overview of the intelligent investment adviser at the present stage in China,clear what is a smart investment adviser,clarify the legal relationship between users and developers,operators,and reviews the development history and current situation ofthe development,;The second part is from smart investment consulting operations,regulators and users three perspective,it discusses the application of intelligent investment adviser in the securities market in China is facing legal problems,first is intelligent investment adviser to face legal risk,the second is the intelligent investment advisory financial regulation is difficult to implement,including securities investment advisory licences shortages,smart investment consulting industry qualification cannot be determined,the underlying asset investment regulatory confusion three questions,Finally,the lack of protection for investors by intelligent investment advisers.The third part is the analysis of the causes of the problems of intelligent investment consultants.The fourth part is to the smart investment consultant of the existing legal problems countermeasures and Suggestions are given,the first is the integrated use of laws and regulations,including in the tort liability act clearly smart investment consulting operations responsibility,draw lessons from the asset management business management methods of intelligent investment advisory business scope,and according to the investors appropriate management measures for the unified appropriateness compulsory measure three content,followed by complete a smart investment consultant supervision mechanism,mainly has set up a special licence issued by the supervision departments to achieve intelligent investment consultant,on the basis of professional qualification examination of perfect market exit mechanism,Specification smart investment adviser the scope of the underlying assets in three aspects,and then is to build a smart investment adviser investor protection mechanism,including establishing investors personal information protection mechanism,establish a smart investment consultant regularly information disclosure mechanism,the risk of building intelligent investment adviser user isolation mechanism and building intelligent investment adviser "online" and "off-line" mode of four content to settle disputes,the last is to build a smart investment consulting market,and create a good environment for market competition.