Protection of the rights and interests of British financial consumers

下面为大家整理一篇优秀的assignment代写范文- Protection of the rights and interests of British financial consumers，供大家参考学习，这篇论文讨论了英国金融消费者的权益保护。金融消费者权益保护机制改革是英国金融监管改革计划的一部分，根据2001年实施的《金融服务和市场法》规定，英国金融服务局为金融市场上的统一监管者。英国高度重视金融消费者权益保护的行业自律机制，基于自律的原则，银行业守则标准委员会并没有权力强制要求各银行遵守该规则。但是《银行业守则》的重要意义在于提炼了银行必须做出承诺的主要事项，体现了行业组织对金融消费者权益的保护。

The outbreak of the global financial crisis has comprehensively tested the financial supervision modes of various countries and put forward higher requirements for the protection of the rights and interests of financial consumers of various countries. In recent years, China's financial industry has witnessed rapid development, with more and more financial innovations and derivatives. More and more ordinary people are participating in the financial market to buy financial products and receive financial services. However, due to the relatively backward development of China's financial market, the financial reform has just begun, and the phenomenon of infringement on the rights and interests of financial consumers has begun to increase. Therefore, it is of great significance to learn advanced experience of financial consumer protection from Britain and other western developed countries.

The UK has launched the reform plan of financial regulation since 1999. The reform of the protection mechanism of financial consumers' rights and interests is part of the reform plan. The UK is also the most representative country in the protection of financial consumers' rights and interests. Under the financial services and markets act of 2001, the financial services authority is the unified regulator of financial markets.

The FSA launched the fair treatment for financial consumers program in June 2001, which requires financial institutions promoting financial products to ensure a high degree of transparency. The purpose of the program is to enable financial consumers to purchase financial products with a clear understanding of the risks they will face. Of these, 35 financial groups with the largest market share were required to report annually on the implementation of the project. The FSA issued a new "business principles" for financial institutions in October 2006, among which 11 are related to judging whether financial institutions comply with regulatory standards and five are related to the protection of financial consumers' rights and interests.

In accordance with the financial services and markets act, FSA integrates the existing organization of financial inspectors and establishes a unified financial inspector service company as the organization of financial inspectors, providing an "alternative dispute resolution system" for financial consumers.

Independent inspector, unified inspector plan, quickly and concisely to resolve disputes is FOS operating goal. The dispute settlement procedure is divided into two stages: the first stage is the internal settlement procedure of the financial institution; The second stage, FOS program. When a dispute occurs, it shall first enter the internal handling procedures of the financial institution; Internal processing procedures to resolve the dispute or consumers are not satisfied with the solution to the FOS process. The investigator's ruling was FOS's final ruling. If a consumer disagrees with the ruling, he may still resort to legal proceedings; In addition, if FOS final ruling is accepted by consumers, financial institutions must accept. All these regulations play a particularly important role in protecting the rights and interests of financial consumers. FOS mechanism since the British operation, has been fair and efficient to solve many financial products dispute cases. FOS handling of cases only a very small number of the judicial review process, fully demonstrate the FOS process of justice, fairness, efficiency, and to gain public trust. At the same time, the number of financial disputes brought before the courts has dropped sharply, which has greatly reduced the heavy judicial task.

Britain attaches great importance to the industry self-discipline mechanism of protecting the rights and interests of financial consumers. The British banking code is a voluntary code. Based on the principle of self-regulation, the committee has no power to compel Banks to comply with the rules. But the significance of the code is that it distills the main issues that Banks must commit to, and embodies the protection of the rights and interests of the industry's most financial consumers.

The protection of financial consumers' rights and interests is included in the protection norms as legislation. The government's clear attitude towards the protection of financial consumers plays a great role in promoting the confidence of domestic financial consumers and maintaining the vitality and stability of the financial market.

Seek reasonable financial consumer dispute judicial resolution mechanism alternative mechanism. FOS as the representative of the British "alternative dispute resolution mechanism" has the characteristics of flexible operation, simple, efficient, that is, to adapt to the needs of the development of the financial market, and can effectively solve the shortage of judicial resources.

We will improve the self-discipline mechanism of the financial sector. The self-discipline mechanism of financial industry includes both the regulation of financial consumer protection and the self-discipline institution of financial industry. Through the formulation of norms and the establishment of institutions, the ability of financial industry to solve financial consumer disputes and protect the rights and interests of financial consumers and the ability of self-supervision should be strengthened.

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