Dissertation
Dissertation > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Banking system and business

Study on Conflict and Coordination of Legal Regulation About Personal Finance

Author ChenJing
Tutor GuanBin
School Huazhong University of Science and Technology
Course Legal
Keywords personal financial services legal regulation conflict and coordination
CLC F832.2
Type Master's thesis
Year 2011
Downloads 35
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Personal finance can not only make the personal asset to keep value, but also can make it to accumulate. The finance market which can arrange funds fully and properly and realize benign development is the intersection and important fields of financial industry in the future. It needs to establish and perfect the relevant laws and regulations, and give all-round, multi-level protection to these financial consumers. Our financial market is a short period of appearance and development, financial regulations is not perfect, infringement of the investors right always occur, especially under the impact of the financial crisis, the principal of separate operation and supervision which leads to the problem about overlapping operations by different departments and self-contradictory is expose undoubtedly. As a result, financial services is lack of uniform standard, and the different regulatory standards and lack of coordination even cause the actual inequality of competitive conditions in financial institutions, it also make the personal finance chaotic, these are restrict the development of our country’s personal finance in varying degrees.The conflicts and contradictions which are existed in the personal finance system determine the necessity of reform. Under the financial crisis, because of the contradiction and deficiency of the system, the financial consumers suffer great losses, the transformation is urgently. Solving this problem must be a systematic project, not only to unite thought, but also to establish unified standards, and reform the current regulatory system fundamentally. Unified thought is to understand the principles of the laws and regulations in the personal financial market, direct clearly about the law’s formulation and implementation, especially to change the past“operators sovereignty”to the“consumer sovereignty”in abstract under the background of globalization, which includes establish the principals of the protection of principal benefits, fair regulation and appropriate regulation. Uniform standard is to enact the higher rates laws which conform to our country finance market characteristics, and apply to every kinds of financial behavior. It includes clear the financial legal relationships, establish the raising way as dividing standard, rule the entrusted financial institutions should undertake fiduciary duty, establish evaluation system for the market level and fund system for protecting the client’s interests. Regulatory reform is to realize the functional transition of regulatory agencies. Financial market supervision is a part of financial supervision, its progress must be under the background of the reform of the financial regulatory system, therefore, the current financial market regulatory reform should pay more attention to improve the coordination function, and combine with financial reform to get further improvement in the future development.

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