基金产品零售中的金融消费者保护研究  

作　　者：彭涛[1] 魏建[1] 

机构地区：[1]山东大学经济学院,山东济南250100

出　　处：《金融研究》2011年第2期149-159,共11页Journal of Financial Research

摘　　要：国内金融消费者保护尚处于探索阶段,专项法律和制度规范仍属空白。针对基金产品零售市场各参与主体行为的研究发现:法律制度对于基金零售业中的消费者保护必不可少;基金公司与银行存在相互搭便车的可能,法律制度的设置应以市场福利最大化为目标;惩罚性赔偿体现了法律对金融消费者有效保护的力度和对机构采取不当行为的威慑作用;消费者应对不同购买渠道的选择承担相应责任。两点立法启示:专项法律制度应注重对不同市场主体的利益权衡,以提高市场福利为目标,防止机构间搭便车行为;对于选择不同销售渠道购买基金的消费者,赔偿额应有区别,既要保护消费者合法权益,又要防止对其产生逆向激励。Domestic financial consumer protection is still in the exploratory stage, the special legal and institutional norms arc still a blank. This paper focuses on the retail market of mutual-fund products and found： （ 1 ） Legal system for the financial consumer protection in the market is indispensable; （2） The free-riding behavior could be existed between the mutual-fund companies and banks and the legal system should aim to maximize the market welfare as a whole; （3） Punitive damages reflects the effective for the consumers protection and deterrence of some misconducts in the market; （4） Consumers should take the responsibilities for their own choices in different purchasing channels. There are two legislative implications： special legal system should fo- cus on balancing the interests of different market players and prevent the free-riding behavior between them; It is necessary to protect the legitimate interests of consumers, but also to prevent consumers＇ adverse selection. Accordingly, the compensation should be difference according to consumers＇ different choices in the purchasing channels.

关 键 词：金融消费者保护 惩罚性赔偿 基金产品零售 

分 类 号：F832.51[经济管理—金融学] F224