Research On The Legal Protection Of Financial Consumers’ Right To Know In China

With the concept of financial management becoming more and more popular and the total amount of financial consumption rising,financial consumption has gradually occupied a vital position in people’s life.Compared with professional investors and financial institutions,financial consumers themselves have great limitations in their understanding of various financial products,their mastery of information and application of professional skills,which also directly leads to the inequality of trading parties,that is,information asymmetry,Thus,consumers themselves are often in a disadvantageous strategic position in the financial consumption market.At present,there are still deficiencies in the legislation and supervision of the protection of consumers’ right to know in the financial field.There is no special legislation for the protection of consumers’ right to know in physical finance or Internet finance.In addition,the continuous upgrading of financial products and services has increased the complexity and difficulty of safeguarding financial consumers’ right to know.On October 11,2020,the implementation measures for the protection of the rights and interests of financial consumers issued by the people’s Bank of China officially came into force.So far,it has triggered a new round of discussion on financial consumer protection.Establishing and improving the relevant legislation and supervision mechanism for the protection of a series of rights such as the right to know of financial consumers is the inevitable way out for the long-term stable and healthy development of the real financial market and Internet financial market,and it is also a necessary prerequisite for effectively preventing financial risks and promoting the stability and prosperity of the financial industry.The comprehensive protection of the right to know of financial consumers is a key component of improving the protection mechanism of the right to know of financial consumption,Improve the relevant legislative gaps and regulatory loopholes,and then improve the regulatory mechanism and system,so that China’s financial consumers have more laws to follow in infringement litigation,standardize financial market activities,and promote the steady development of the whole financial industry.The structure and content of the article are arranged as follows: the first chapter is the introduction,which focuses on the research background,significance and methods,as well as the current situation of the legal protection of financial consumers’ right to know at home and abroad;Based on the study of the definition and particularity of financial consumers,the second chapter mainly discusses the legal definition and particularity of financial consumers’ right to know;The third chapter analyzes the current situation of the legal protection of financial consumers’ right to know in China on the basis of the previous theory and combined with case discussion.It summarizes the difficulties in performing the obligation of disclosure,the non-standard information disclosure of Internet Financial platforms,the format of information disclosure of financial products and the weak awareness of financial consumers’ rights,and analyzes the causes;The fourth chapter selects the experience and mode of legal protection of financial consumers’ right to know in the United States,the United Kingdom and the European Union,and mainly draws lessons from the successful experience of foreign financial market information disclosure and financial consumer education;The fifth chapter puts forward targeted suggestions to improve the legal protection of financial consumers’ right to know from the regulatory level,including standardizing sales behavior,clearly stipulating the information disclosure rules in the field of Internet finance,improving the information disclosure system of financial products and strengthening the publicity and education of protecting financial consumers’ right to know.