Research On Legal Issues On The Protection Of Financial Consumer Rights And Interests In Robo-advisory Business

With the continuous expansion of the application fields of big data and artificial intelligence technology,the financial industry is no exception.As an emerging business robo-advisor,it originated in the United States after the subprime mortgage crisis and swept the world with a prairie prairie.Because robo-advisors have many advantages such as low rates and high efficiency,they have also attracted a large number of financial consumers as long-tail users to participate in it,promoting the development of inclusive finance,and major banks,Internet companies,etc.have also poured in.in.However,financial consumers as service recipients are relatively weak in terms of lack of relevant professional knowledge,risk resistance ability and awareness of rights protection,while robo-advisor operating agencies ignore the legitimate rights and interests of consumers from the perspective of their own interests,resulting in financial consumers.rights are violated.Taking the specific rights and interests protection of financial consumers as the starting point and foothold,this paper analyzes and defines the conceptual scope,legal status and characteristics of robo-advisors and financial consumers,and finds out the commonalities between the robo-advisor business and the protection of financial consumers’ rights and interests.,on the basis of exploring the problems existing in the protection of different rights of today’s robo-advisor financial consumers,and proposes corresponding improvement methods.This paper consists of four parts: The first part is the discussion of the basic theory of robo-advisory financial consumer protection.First,by summarizing and analyzing the definition of robo-advisors outside the territory,it is clear that asset management services should be the proper meaning of robo-advisors,and then analyze the different views of the academic community on the nature of robo-advisors,combined with my country’s legislative situation and practice on robo-advisors The status quo defines the robo-advisor.Then make an analysis and judgment on the legal status of robo-advisors,and clarify the object status of artificial intelligence in it.Then analyze its business process and characteristics to explore the difference between it and traditional manual investment advisors,and analyze the reasons why it attracts a wide range of financial consumers.The second part is the sorting out and necessity analysis of the legislation status of robo-advisor financial consumer rights protection legislation.First,sort out the legislation related to robo-advisors and financial consumer protection legislation,and then analyze and demonstrate the definition of financial consumers,the chaos of the robo-advisor market,and the new algorithmic risks brought by robo-advisors to financial consumers.The need for consumer protection.The third part is about the lack of appropriate management of financial consumers in the current robo-advisor business process in my country,the insufficient disclosure of information makes it difficult to guarantee their right to know,the electronic service agreement makes their right to fair trade more vulnerable,and the right to information security faces more serious problems risk and other issues to analyze and demonstrate.In the fourth part,according to the problems found in the foregoing,it is proposed to regulate the online marketing and promotion of robo-advisor business,improve the content of questionnaires,and improve the accuracy of user portraits.Robo-advisor information disclosure should be true,accurate,complete and continuous,and algorithm disclosure should be accurate.Follow appropriateness,availability and easy understanding,standardize the content of service agreements,introduce electronic contract filing rules,follow the principle of necessity,and establish countermeasures for the protection of personal information.In this way,the development of the robo-advisory business is regulated,in order to avoid the occurrence of corresponding financial consumer rights violations in the robo-advisory business,and to provide reference and reference for the protection of financial consumers in the application and development of technology in other financial fields.The security and stability of my country’s financial order.