Research On The Judgment Criteria Of The Suitability Obligation Of Financial Institutions

In order to effectively protect the rights and interests of investors and maintain the order of the financial market,financial institutions need to perform the appropriate obligation as a legal obligation,that is,financial institutions should match the appropriate financial products and provide appropriate financial services for the appropriate investors.Previously,the legal liability of this obligation in China mainly focused on the field of administrative liability.The promulgation of the "nine minutes of the People's Republic of China" and the new "Securities Law" guaranteed the interests of investors in the field of civil liability.Financial institutions' violation of the obligation of propriety can be regarded as infringement on investors and should bear corresponding tort liability.In civil litigation cases involving appropriateness obligation,the difficulty of judging whether a financial institution violates the appropriateness obligation lies in measuring the degree of agreement between the personal attributes of investors,such as investment knowledge,investment experience and risk tolerance,and the profit and loss fluctuation and risk attributes of financial products.Through the explanation of the basic theory of the obligation of appropriateness,this paper further carries out relevant empirical research and summarizes the formal and substantive judgment standards of the obligation in the judicial review.The formal judgment standards include the supporting traces and regular customer return visits of financial institutions in the process of obligation performance,the formal matching between investors and financial products,and the substantive judgment standards Specifically,it includes the subject standard,whether the risk rating of investors and financial products is appropriate,and whether the two constitute a substantial match,etc.,in order to provide ideas for the value supplement of the open concept of appropriateness obligation in judicial practice.