China News Service, September 18th. According to the website of the central bank, the central bank recently issued the "Implementation Measures for the Protection of the Rights and Interests of Financial Consumers of the People's Bank of China" (People's Bank of China Order [2020] No. 5, hereinafter referred to as the "Measures"), since 2020 It will come into effect on November 1, 2015.
The person in charge of the relevant department of the People's Bank of China stated that the main purpose of formulating the "Measures" is to combat illegal activities that infringe on the legitimate rights and interests of financial consumers, to reasonably increase the urgent need for illegal and illegal costs, and to solve the problem of low costs of illegal and illegal in the financial sector.
Data map: People's Bank of China.
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Talking about the purpose of formulating the "Measures", the person in charge said that first, it is to adhere to the objective needs of financial regulatory issue orientation, put active prevention and resolution of systemic financial risks in a more important position, and give full play to the protection of financial consumers' rights and interests in the financial sector. The basic role of "shock absorber" and "pressure relief valve".
The second is the practical need to protect the long-term and fundamental interests of financial consumers, raise the level of legal effectiveness of the special documents protecting the rights and interests of financial consumers, and further regulate the operating behavior of banks and payment institutions.
The third is to improve the performance needs of the People's Bank of China's financial consumer rights protection legal system, and to better perform the duties entrusted by the new "three decisions" plan.
The fourth is the urgent need to crack down on illegal activities that infringe on the legitimate rights and interests of financial consumers, to reasonably increase the cost of violations, and to solve the problem of low costs of violations in the financial sector.
The fifth is to better respond to the actual needs of grassroots voices and social concerns, and to respond to the “two sessions” National People’s Congress, CPPCC members, financial consumers, financial institutions, and branches of the People’s Bank of China, who have proposed to speed up the legislative process for the protection of financial consumers’ rights and interests. Response.
The person in charge also talked about the main problems solved by the "Measures": The first is to refine and implement the requirements of the upper law.
There are differences between the financial consumer rights protection mechanism and the consumer rights protection mechanism in the general consumption field. The relevant content in the "Consumer Rights Protection Law of the People's Republic of China" should be more detailed in the financial field.
The second is the basis for the People's Bank to perform duties.
The original regulatory documents have a low level of effectiveness. Combining the new "three decisions" plan to enhance the legal effect level of the "Measures" will be more conducive to the protection of the rights and interests of financial consumers of the People's Bank of China.
The third is the adaptability of the original regulations.
Since the implementation of the original regulatory documents for more than three years, many new situations and new problems have emerged in the financial consumption field. The Party Central Committee and the State Council have also put forward new requirements for the protection of the rights and interests of financial consumers. Therefore, it is necessary to issue on the basis of the original regulatory documents. Departmental regulations, timely adjustment of supervision methods and strategies.
The fourth is the issue of reasonably increasing the cost of violations of laws and regulations.
The original regulatory documents did not have corresponding penalties, and the deterrent effect on illegal activities that infringed on the legitimate rights and interests of financial consumers was limited.
The "Measures" set up legal responsibilities in a special chapter to solve the problem of lower costs for violations of laws and regulations in the field of financial consumer rights protection.
The person in charge also pointed out that the "Measures" adhere to a problem-oriented approach and have focused and targeted regulations on issues that are strongly reflected in practice, especially the eight rights that are closely related to financial consumers.
For example, the rules have added the right to respect; in order to adapt to the development of the financial market, more explicit requirements have been put forward in terms of the right to fair transactions and the right to choose; absorbed the "Regarding Further Regulation of Financial Regulations" jointly issued by the "one bank, two committees and one bureau" The relevant content of the "Notice on Marketing and Publicity Behaviors" provides targeted regulations on marketing and publicity; based on the continuation of the original financial information protection chapter, with the purpose of protecting financial consumers’ information security rights, from information collection and disclosure It has been optimized in terms of notification, use, management, storage and confidentiality.