Research On Banks' Fulfillment Of Investor Suitability Obligations

As an enrichment of the traditional theory of the protection of the weak,the obligation of investor suitability is aimed at imposing the obligation of product sellers to "promote suitable products to suitable investors" in order to reduce asymmetry and achieve a relative balance between the two,So as to realize the protection of the interests of investors—the disadvantaged party in financial product transactions.As the first bank wealth management in China's multi-billion asset management market,it is also subject to investor suitability obligations in the process of wealth management product services and transactions.However,on the one hand,commercial banks have the inherent motivation to use investors as counterparties to diversify their own risks through the sale of wealth management products.Banks as investment institutions may,out of consideration of maximizing their own interests,provide financial consumers with incentives and risk tolerance.And expect different financial products;on the other hand,bank financial management "breaks the rigid payment",banks no longer guarantee the absolute safety of financial consumers' principal and investment income,and financial investors are solely responsible for financial management results,which makes the bank's financial management appropriate Obligation disputes are increasing.At present,especially under the concern and reflection of all walks of life caused by the "yuanyoubao" product thunder,the investor suitability obligations of banks have once again become the focus.Although the suitability obligations of banks in the process of financial management services have begun to require normative requirements,The degree of performance also reflects the current status of a certain bank investor suitability system,including failure to incorporate suitability obligations into the law in principle,unclear levels of the legal system,unclear regulations,and lack of uniform and detailed guidance on suitability and suitability.Regulations and normative documents do not provide adequate guidance for banks' practical operations(including the inadequate specific guidelines for financial product risk rating,investor risk assessment and testing,and financial promotion),and the lack of a complete set of appropriate obligation systems.Based on the actual performance of the bank's obligations and the sample case analysis of the bank's financial suitability obligation disputes and the reference and reference of foreign advanced experience,this article proposes specific ideas for the five aspects of the bank's suitability system.The improvement of the bank suitability system includes the introduction of bank suitability obligations into the Commercial Banking Law in accordance with legal principles,clarification of the current legal system,promulgation of specific guidance judicial interpretations,and guidelines for regulating regulations and normative documents(including formulating unified financial product risk Compulsory publication of rating standards,product rating rules,production of personalized product manuals and risk warnings based on product characteristics,etc.)and a complete supporting system for suitability obligations(including detailed product risk evaluation,building diversified dispute resolution mechanisms,and strengthening financial investor education system).Work together to promote banks to better fulfill investor suitability obligations and protect the rights and interests of wealth management investors.