Research On The Civil Liability Of Financial Institutions Violating The Duty Of Appropriateness

Domestic financial events such as China Bank crude oil treasure in 2020,foreign subprime crisis,Lehman mini debt,credit card debt storm constantly remind us of the need to regulate the obligation of appropriateness.Driven by interests,financial institutions constantly carry out so-called financial innovation and develop new financial products to market customers by taking advantage of their own advantages.It makes financial consumers who lack necessary knowledge and experience buy financial products that are not commensurate with themselves,causing huge losses.This further led to an even more serious social crisis.Although there are many in our country’s financial supervision laws and regulations about appropriateness compulsory legal norms and autonomy,with limited mis-selling behavior of financial institutions,but to financial institutions in violation of the appropriate obligations should be what legal responsibility shall be investigated for fuzzy,civil liability clause is not clear,how can the burden of proof allocation,scope of compensation for such problems as how to define the intensified the conflict between financial institutions and investors.The following is divided into four chapters on the subject of civil liability of financial institutions for breach of appropriate obligation:The first chapter summarizes the concept of the obligation of appropriateness,from the beginning of the development of appropriateness to the current definition of appropriateness in China.Secondly,we sorted out the legal provisions on the appropriateness obligation or system in China.In the above laws and regulations,it is mainly the administrative responsibility of supervision that financial institutions are determined to undertake in violation of the appropriateness obligation,while the definition of civil liability is vague.Finally,through the present situation of civil legislation and the problems existing in the practice of judgment,it is concluded that the obligation of appropriateness has many levels and fields of legislation in our country,the legal nature of civil liability is unclear,and the content of appropriateness is confused.The second chapter mainly starts from two aspects.The first aspect is the legal relationship between financial institutions and investors.There are contractual relationship and non-contractual relationship between financial institutions and investors.Under the background of different contractual relations,investors should have different appeals to financial institutions for breach of the appropriateness obligation,and the applicable civil legal causes are also different.The other aspect is the analysis of the legal basis theory of the obligation of appropriateness between financial institutions and investors,including the fiduciary duty theory,the regulatory loophole remedy theory,the trust protection theory and the information asymmetry theory.Finally,it is suggested that China should combine the actual situation of the current financial market to identify the contractual relationship and the theory of special industry.The third chapter analyzes the theoretical basis and practical situation of the possible civil liability of financial institutions for breach of the appropriate obligation,such as the liability for breach of contract,the liability for tort and the liability for contracting fault according to the judicial practice and theoretical circle.The final determination should be based on the different stages of the conclusion of the contract to determine the financial institutions tort liability or contracting fault liability.The fourth chapter mainly analyzes the common constitutive elements of tort liability and contractual negligence liability: behavior fault,imputation principle,causality and damage result.Introducing cases in judicial practice to analyze its rationality and legality.