Legal Regulation Of Bank Financial Products

Since its inception,China's banking financial business has experienced rapid development.The scale has grown to 29 trillion yuan,making it the largest asset management business section in China and playing an important role in the stability of national financial security and the orderly development of social wealth management.At the same time as its rapid development,the study of relevant legal issues of bank financial products is still insufficient.Theoretical and practical circles have different understandings of the definition of bank financial management,legal relationships,functional positioning,and specific legal regulatory paths.The fundamental theoretical significance of studying legal issues such as legal relationships and legal regulation of bank financial products lies in clarifying the theoretical basis and practical support of bank financial business,and exploring how to continue to deepen the exploration of the bank's persistent innovation in financial business under the background of financial innovation.Fundamental and stable development of the institutional basis can be used to explain the development status of bank financial products,and to provide theoretical guidance for guiding business development and improving the effectiveness of supervision;its practical significance lies in the conduct of bank financial services and supervision methods of typical national banks.Comparative analysis to clarify the legal relationship among many participants in China's domestic bank financial products,in order to promote the standardized development of China's bank financial business,enhance the investment management and core competitiveness of commercial banks,promote the transformation and upgrading of banking business,and improve the allocation of financial market resources.Efficiency and enhance the balance of China's financial system in order to serve the development of real economy and help finance return to the real economy reasonably.The first chapter studies the concept and classification of bank financial products.There are differences in the positioning and development stages of China's banking business with other countries in the world.Banking financial business can not be completely matched with foreign wealth management business.In the field of extraterritorial finance,financial products and services mostly adopt forward-looking and open definitions.Most of them define financial products through the definition of financial products,services,and securities.Under the background of the separate operation of domestic financial institutions,the definition of financial products of commercial banks has varied greatly since their birth.Domestic scholars have defined the concept of bank financial products from different perspectives,including debtor contracts,trust products,consulting contracts,commission contracts,unnamed contracts,and commercial contracts.There are a variety of financial products classification methods,of which according to the different levels of income and principal protection of legal research is of great significance.The second chapter studies the legal relationship of bank financial products.Clarifying the legal relationship is a prerequisite for determining the configuration of rights and obligations of the parties involved.The legal relationship of bank financial products is the basis for rational distribution of the rights and obligations of investors and asset managers.It is also a prerequisite for perfecting the system design of bank financial products and the basis for carrying out research on related issues.At present,according to the legal relationship of bank financing,according to different product types,the legal relationship between the guaranteed financial products should be defined as a debtor-debt relationship,and the definition of the legal nature of non-guaranteed financial products must be considered in conjunction with the practical needs.Objectively speaking,it only has certain characteristics of commission contract and trust contract,and does not belong to any of the two types.Therefore,the essence of a financial management contract is the unnamed contract that has the characteristics of the above two types of contracts.Considering practice and academic value,the following chapters focus on the legalization of banking non-guaranteed financial products.The third chapter studies the objectives and requirements of bank financial products system design.From a realistic perspective,there are significant differences and inequalities in law entities of bank financial products.The key precondition for the establishment of bank financial contractual relationship is the customer's trust in bank credit and professional financial management ability.Based on this special relationship of trust,the position between the client and the bank is unbalanced and unequal.Unequal rights and obligations between banks and customers,differences in professional competence,and inequalities in contracting power are widespread.As a result,customers are in a significantly disadvantaged position in the bank's financial business.Personal customers' incentives for purchasing financial products are mostly sporadic and intermittent behaviors.They are not for sustained profit.Their status is particularly vulnerable.Personal banking financial products should be defined as a financial consumer contract rather than a commercial contract,according to which the bank must undertake corresponding fiduciary obligation.From the perspective of legal supply,the bank legal basis of bank financial products is not clear,the nature of the law is not qualitative,the status of the main body of the law is not clear,the lack of clear rules of the law highlights the necessity and urgency of the current bank financial business legalization.Judging from the extraterritorial experience,the functional regulation adopted by the U.S.countries,the unified regulation in Germany or the regulation in Japan are all based on the special circumstances of each country and are in line with the financial systems of various countries in the context of financial innovation and Innovative demand minimizes the rent-seeking of power,protects the interests of investors and improves the effectiveness of supervision.It provides useful clues and enlightenment for the design of the legal system of bank financial products in our country.In the follow-up design of the legal system of bank financial products in our country,we should uphold the four basic principles of ensuring transaction security,improving transaction efficiency,realizing social justice and guarding against financial risks,and taking substantive equality as a basic system design concept.Whether the equal right attribute is a right or a principle has drawn much attention and controversy from scholars.Starting from the equal core of commercial law,whether it is the attribute of equal right,the difference of right and principle,the essence and so on,it proves that equality is a principle Not a right.The principle of equality can not only pursue equality in form but ignore substantive equality.It is necessary to rectify the current problems that banks' financial product laws and regulations impose too much emphasis on formal equality and result in the loss of investor interests,and safeguard the legitimate rights and interests of investors.The fourth chapter studies the business of faith in the legal regulation of bank financial products.Investors' trust-based purchase of financial products is the externalization of customers' trust relationship with banks.As a fiduciary obligor,banks should undoubtedly become the main body of fiduciary duties and uphold the duty of care of good managers and give priority to the interests of clients.The bank's commitment to these obligations requires certain objective conditions.For example,commercial banks must have the external requirements of managing the experience of financial products,professional managers qualified for professional needs,a sound internal risk control system and sufficient capital.In addition,we must also formulate a complete system of rules at the institutional design level to restrain the fulfillment of trustee's fiduciary duties in order to safeguard the legitimate rights and interests of investors and ensure the orderly competition in the industry.In terms of specific institutional design,it is necessary to implement the bank's information provision obligations,suitability obligations,and loyalty and attention obligations.Chapter Five studies the protection of client's rights and interests in the design of legal system of financial products in banks.Financial institutions should cautiously assess the potential legal risks of financial business,and continue to expand business volume while safeguarding the legitimate rights and interests of investors.In recent years,the bank's increasing misconduct in financial business,lack of information disclosure,inadequate supply of relevant financial laws and regulations,and obstruction of investor relief channels have all presented the problems of insufficient protection of current bank financial investor rights and interests.From the consumer's point of view,the status of customers and banks is unequal,and bank financial management is a unique risk characteristic of financial products such as the intangibility,the fictitiousness of financial consumer goods,the uncertainty of risks,the profitability,and the inseparability of product services and sales.,Highlighting the importance of protecting customers' rights and interests as consumers of bank financial products.In implementing the mechanism,we must pay attention to protecting customers' rights such as trading rights,capital security rights,and supporting rights and interests.We must rationally define the boundaries and restrictions of customer rights protection according to the different types of customers.For customer infringement,public law and private law should be combined to play a unique regulatory function of judicial supervision and supporting functions,while giving the necessary relief of public law and private law,regulate financial products in the bank infringement.The sixth chapter studies the realization of the legal regulation of the bank financial products.A reasonable legal regulation system was previously proposed to establish regulatory concepts and methods that are consistent with the bank's financial products.The regulatory concept should sort out and clarify the essence of the trust of bank financial products,and build a method of bank financial products based on the principle of substantive equality.In the specific implementation path,it is necessary to establish consumer protection paths through financial consumer rights protection legislation,improve information disclosure,and build a consumer litigation system;strengthen regulatory oversight,strengthen prudential supervision,and construct supervision of bank financial products.Through the introduction of functional regulatory concepts,improve the regulatory model of bank financial products.Finally,through the integration of financial products legislation,the legislative model of financial products,including bank financial products,has been transformed from industry legislation to financial goods integration legislation,and a legal system has been established that integrates vertical and horizontal dimension,including bank financial products,to cover financial services as a whole.