中國大陸商業銀行理財商品銷售規範與爭議之探討

A Study on the Regulations and Dispute Settlements of Commercial Bank's Sale of Investment Products in Mainland China

中國大陸理財商品市場的發展，自二○○四年開始起步，二○○五年處於萌芽發展階段，直至二○○六年起市場開始蓬勃發展。而各家商業銀行為搶食個人理財業務的利潤大餅，近年來紛紛推出各種理財商品並積極進行銷售，惟金融業者於銷售商品時未能確實遵循銷售行為準則及金融監管力度不足等原因，因此金融理財商品銷售的糾紛日益增加。尤其自二○一一年以來「影子銀行」問題日趨嚴重，二○一三年六月更爆發「錢荒」問題，金融業浮濫發行理財產品以籌措資金，且其理財產品連結標的不透明，更增添影子銀行風險，及可能引爆後續的金融危機產生。如何建構完整妥適的理財商品銷售規範，並確保金融消費者之權益，成為監管機構最重要的課題。本文針對中國大陸商業銀行理財業務市場發展現況，及相關理財業務之商品銷售規範內容與爭議為文探討，並提出完善其金融市場理財商品銷售之法規建置，俾利於瞭解中國大陸理財商品市場及各項銷售行為準則

Along with the social progress and economic development in Mainland China, people gain more income and assets so that they have the needs to maintain and even increase the value of their fortune. In order to gain more profits from the individual fortune management business, each commercial bank in Mainland China has released and marketed various investment products in recent years. Nevertheless, due to non-compliance with sale rules and insufficiency of financial supervision, disputes from selling investment products have been brought about. To resolve such issues, not only should commercial banks pay much attention to consumers' interests and the controls of credit risk, operational risk and market risk, but also the government should emphasize on completing consumer protection and appropriate regulations and measures regarding the sale of investment products. Moreover, the government should establish financial consumer dispute resolution institutions to ensure financial consumers' benefits and facilitate people to solve their contractual disputes with huge banking industry in an equitable and effective way. In particular, the problems of “shadow bank” have been getting worse since 2011. In June 2013, the outbreak of “money shortage” bursted out, the financial sector issued financial products indiscriminately to raise funds, and its link of financial products was opaque, moreover increased the risk of shadow bank and possible subsequent financial crisis. This paper analyzes the current business situation of commercial bank industry in Mainland China, including clarifying the problems existing in the present market of investment products, and discussing the regulations on the sale of investment products. The paper concludes with a strong regulations and supporting measures in respect to commercial bank's sale of investment products and try to give some suggestions for improving the relevant regulations in Mainland China.