Research On Consumer Protection Of Financial Derivatives Business Of Commercial Banks

With the development of the financial market,financial derivatives trading gradually infiltrates from the professional investment field to the general consumption field.According to the characteristics of international financial derivatives trading,China’s commercial banks gradually become the link between ordinary residents and complex financial derivatives trading by developing various kinds of financial derivatives products.At present,the main operation mode of financial derivatives products of domestic commercial banks is "market maker" mode,that is,banking institutions make unified quotation for financial derivatives and accept consumers to buy and sell products at that price.Compared with ordinary bank financial products,financial derivatives products have the characteristics of high risk and high yield,and because of its small and broad margin system,it virtually reduces the threshold of investors and attracts more and more financial consumers.However,due to the imperfection of legislation,regulation and publicity of financial knowledge,commercial banks often ignore the protection of financial consumers’ rights and interests in the process of selling financial derivatives.In April 2020,the Bank of China "crude oil treasure" incident broke out,which further exposed many problems of commercial banks selling financial derivatives products,including transaction contracts infringing consumers’ fair trading rights,inadequate performance of appropriate obligations,insufficient information disclosure,lack of measures to prevent investors from expanding losses,and consumer complaint handling mechanism Not perfect,etc.At the same time,it also makes the community pay more attention to the protection of consumers’ rights and interests in the field of complex financial derivatives.At present,the development of domestic non bank financial institutions is not mature,and large commercial banks are still the preferred channel for financial consumers to purchase financial products and services.Therefore,it is necessary to take effective measures to improve the consumer protection system of financial derivatives business of commercial banks,continuously enhance the supervision,continuously strengthen the construction of diversified dispute resolution mechanism,promoting domestic commercial banks to enhance the adaptability of financial derivatives products and consumer risk tolerance to properly handle and reduce all kinds of financial disputes caused by product losses,effectively protecting the rights and interests of financial consumers,ensuring the financial consumer market developing in healthy way.