B · Normal
[The second review draft of the Financial Law Draft enriches content related to financial consumer and investor protection] November 2nd, the "Financial Law of the People's Republic of China (Draft)" was submitted to the 25th meeting of the 14th National People's Congress Standing Committee for a second review. The second review of the draft enriches the content of financial consumer and investor protection, and adds targeted provisions for Internet marketing and other activities. In terms of protection of financial consumers and investors, the second draft of the draft added provisions that fair and reasonable transaction conditions should be set when providing financial products and services. Standard clauses should not be used to exclude or limit the rights of financial consumers and investors, reduce or exempt one's own responsibilities, increase the responsibilities of financial consumers and investors, and other unfair and unreasonable regulations; marketing entities of financial products and services should strengthen customer suitability management, understand the customer's situation in accordance with regulations, truthfully explain the content of financial products and services, fully warn of risks, and provide financial products and services that match the customer's situation.
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