Research On Legal Issues Of Informing Obligation Of Bank Futures Financial Products

In recent years,China’s financial services have developed rapidly,the threshold of financial products has been lowered,the variety of products has been continuously enriched,the number of covered investors has further increased,and residents’ demand for wealth management has been further satisfied.Bank futures financial products are favored by many financial consumers for their high yield.However,in addition to high returns,futures financial products also inherit the characteristics of strong professional futures,no stop loss point,short investment period,standardized contracts and high risk liquidity.Moreover,as a relatively new financial business,futures financial products are not mature enough and their protection for financial consumers is not yet perfect,which further amplify risks.As sellers of futures financial products,banks have the obligation to inform financial consumers of relevant information and risks in a complete,accurate and timely manner.However,in practice,banks have defects in the performance of the informing obligation,and existing laws and regulations lack specific provisions on the informing obligation of bank futures financial products,which makes it very difficult for financial consumers to safeguard their rights.From the perspective of overseas and Taiwan system,the United States,the European Union,Japan and Chinese Taiwan have made relatively systematic provisions on the notification obligation of financial institutions.Among them,the United States requires the time for dealers to perform the notification obligation,the European Union stipulates the specific contents that financial institutions should inform financial consumers,Japan makes targeted notification requirements for different types of financial products,and Chinese Taiwan stipulates the legal consequences when financial institutions fail to perform the notification obligation.It has the reference value for further perfecting related laws and regulations.It is necessary to improve the relevant provisions on the informing obligation of bank futures financial products,clarify the legal nature of the informing obligation of banks and the nature of the liability that banks should bear after improperly performing the informing obligation,and refine the content of the informing obligation of bank futures financial products from the perspective of product description and risk suggestion.Starting from the time and way of the performance of the informing obligation,the standards for the performance of the informing obligation of bank futures financial products should be clarified,and the principle of "seller responsible,buyer beware" should be adopted to keep the balance between the interests of banks and financial consumers.