| Nowadays, financial products have become growingly abstract and complicated, and the financial trading models have been more and more integrated while professional. As a result，investors are experiencing a transformation of their roles in the financial markets. Non-professional investors or the public investors are integrated with consumers in essence gradually and become a self-contained class of market subjects, that is, the financial consumers. Financial consumers mean individuals who obtain financial products or services from financial institutions primarily for personal, family, or household purposes. As far as the legal relationship where financial consumers exist, legal norms embodying special aim or adjusting method should be constructed.With such a market change and the conflicting interests among the market participants, many developed market economy countries make the protection of financial consumers the central part of their financial system reform. Although the concept of financial consumer has not been introduced in or adopted by Chinese law, there are already some legal institutions concerning the protection of the rights and interests of financial consumers. Such legal norms and institutions can be separated from the respective financial law departments, under the existing separate regulatory and legislative regime of security, bank, insurance and trust, and reconstruct a financial service law or a financial consumer law centered on the protection of the rights and interests of financial consumers together with some new constructed legal norms. Our future financial service law should focus on the standards of financial products and services, do it best to define the benefit allocation mode of financial products in advance and control the implied market risk, and integrate the existing market regulatory regime effectively. |
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