The Exploration Of Perfecting The Mechanism Of Information Disclosure In Banks’ Financial Products

The financial crisis of2008brought huge impact on the global economy. After the catastrophe, hundreds of banks went bankrupt and tens of thousands of staff lost their jobs. Meanwhile, the crisis caused a series of consequences, leading to the world falling into economic crisis. After five years, the impact continued. However, the scientificity and validity of the current financial system and supervision were suspected more and more. Thus some financial reform was desired to be made by the government.In recent years, many developed countries and international organizations began to focus on the financial prudential supervision and consumer protection. They reviewed the previous financial supervision mode and methods, launched some new laws and regulations, established new supervision department, and took more appropriate means of supervision to protect the rights of financial consumers. For example, the British government changed the mixed supervision mode to Twin peaks supervision mode; PRA and FCA was established respectively for financial prudential supervision and consumer protection; USA government set up the FSOC and the CFPB; the FSOC was responsible for coordinating the supervision department to implement the prudential supervision; the CFPB was responsible for the behavior of financial institutions supervision accordingly; G20proposed ten principles of financial consumer protection for the countries’referral.The information disclosed enough or it would not directly affect the consumers to make the decision to buy or not. Hence, it is important to protect the financial consumer benefits. The author of this article starts with the concept of bank’s personal investment, introduces the bank’s individual financing business development in China as well as the meaning of information disclosure in our country combining with the recent financial events and lawsuit cases, points out the problem of the information disclosure in our banking industry, and then makes an analysis from the aspects of the regulatory system, laws and regulations and consumer education executed in British, USA, Singapore, Japan, CGAP and G20combining with our current situation, then analyzes the lack of our current financial supervision structure, laws and regulations and consumer education, and carries on a positive exploration to improve the disclosure mechanism of bank financial products information.In conclusion, in this paper, the author tries to make an analysis for the improvement of our financial regulatory and the laws and regulations as well as the system of the financial consumer education, and the purpose is to combine the results of previous studies with some good methods used in the developed countries or international organizations and our banking situation, and explore the effective mechanism of bank financial products information disclosure which suit for the situation of our country. But the author still lacks knowledge and experience. Thus, there must be many deficiencies in the paper.