Study On The Appropriateness Obligation Of Bank Financial Product Sales

In recent years,bank financial products have further met investors’ demand for asset preservation and appreciation.The scale of financial products and the number of investors have grown rapidly,resulting in an increasing number of disputes over financial products.In the case of such disputes,whether the bank performs the appropriate obligation or the "flaw" in the performance of the appropriate obligation is the focus of controversy.The appropriateness obligation of a bank refers to providing the most appropriate financial products to investors from a professional point of view on the basis of comprehensive consideration of the information content of investors and financial products.The sales of financial products shall include the obligations of understanding investors,fully understanding financial products,appropriate matching,informing and explaining related risks,and continuous evaluation.What liability banks should bear for violation of appropriateness is also closely related to the content of appropriateness,which mainly includes contracting negligence liability,breach of contract liability and tort liability.In recent years,both at the legislative level and the industry level,the regulation of bank appropriateness obligations has been constantly improved.The analysis of its necessity is reflected in three aspects: it is beneficial to protect the rights and interests of financial consumers,prevent and resolve system risks,and promote the internal governance of banks.Through sorting out the appropriateness obligation specification documents and relevant cases,this paper specifically analyzes the current situation and problems of the appropriateness obligation of bank financial product sales from the legislative,judicial and performance levels,and analyzes the reasons for the problems: the current legal rank of the appropriateness obligation is not high,the rules of the appropriateness obligation of bank financial product sales are lack of clarity,the legal relationship between investors and banks is inconsistent,and the supervision of bank financial product sales is not in place.In order to put forward reasonable suggestions for the system of appropriateness obligation in China,this paper makes a comparative analysis of the current situation of appropriateness obligation in foreign countries.The advantages of the United States,the European Union,Japan and other countries are mainly reflected in the complete and unified legislation of appropriateness obligation,the formation of a professional investor protection system as a standard,the clear provision of the civil liability of banks for violating the obligation of appropriateness,and the formation of a systematic regulatory system.By using the existing practices of foreign countries for reference,this paper further discusses the effective path to improve the obligation of appropriateness of bank financial product sales.Specifically,in terms of legal system,it is necessary to establish uniform laws and regulations on appropriateness obligations,and improve the compliance supervision of bank financing sales;In judicial practice,the legal relationship between financial institutions and investors is defined by the legal relationship of financial services,and the appropriate obligation review is conducted by combining form with substance;In terms of the bank’s internal financial product sales system,we should improve the financial product sales mechanism and understand the identification criteria of customers.