实质法治理念下金融机构适当性义务的法律构造  

Legal Structure of Appropriateness Obligations of Financial Institutions Under the Concept of Substantive Rule of Law

作　　者：冯辉[1] Feng Hui

机构地区：[1]对外经济贸易大学法学院

出　　处：《法学》2022年第7期149-162,共14页Law Science

基　　金：国家社科基金重大项目《我国催收行业监管与立法完善研究》(20&ZD197)的成果。

摘　　要：确立金融机构的适当性义务是金融监管理念由形式法治转向实质法治的重要体现,具有社会整体利益最大化和精准治理并重的法理基础。《九民会议纪要》虽构建了相应的规则结构,但在实质法治理念的审视下尚存在适用范围与法律依据缺乏顶层设计、责任主体之间连带责任不明确、举证责任分配与告知说明义务实际效果存在不确定性、损失赔偿的计算方式有待改进、对金融机构免责事由的规定不合理等问题,且已在相关司法实践中有所体现。故此,有必要从如下诸方面予以完善:进一步明确和完善金融机构适当性义务的法律构造以促进其司法适用,具体包括扩大适当性义务的客体适用范围,构建“实体法分散+司法解释统一”的法律依据体系,制定专门的“金融消费者权益保护纠纷司法解释”;以共同侵权明确发行人与销售者的连带责任,参照证券、期货和银行理财产品的适当性管理制度和保险人的提示说明义务,促进举证责任和告知说明义务规则的细化和系统化;强化损失赔偿计算方式的惩罚属性;明确消费者主动要求越级购买时的金融机构免责情形。Establishing the appropriateness obligation of financial institutions is an important manifestation of the transition from the formal rule of law to the substantive rule of law in financial supervision,and it has a legal basis for maximizing the overall interests of the society and paying equal attention to precise governance.“The Minutes of the Ninth National Court Civil and Commercial Trial Work Conference” constructs specific applicable rules for the suitability obligations of financial institutions from the perspectives of the scope of application,legal basis,subject of responsibility,distribution of burden of proof,obligation to inform and explain,compensation for damages and exemptions.But under the concept of substantive rule of law,there are several problems:lack of top-level design of the scope of application and legal basis;the unclear joint and several liability between the responsible parties,and the limited actual effects of the burden of proof and the obligation of notification;the inappropriate calculation method of compensation for losses needed to be improved,and the unreasonable provision of exemptions for the financial institutions.These issues have been reflected in the judicial practice.The legal structure of the suitability obligations of financial institutions should be clarified and perfected to promote their judicial application.As the resolutions,the scope of application of the suitability obligation should be expanded,a legal basis system of “decentralized entity rules + unified judicial rules” should be established,and the special judicial interpretation of “Disputes on the Protection of Financial Consumer Rights” should be formulated;joint infringements should be used to clarify the joint and several liability of issuers and sellers,and we should learn from the suitability management system of securities,futures and bank wealth management products,and from the insurer’s prompt and explanation obligation so as to promote the refinement and systematization of the burden of

关 键 词：金融机构 适当性义务 举证责任 告知说明义务 损失赔偿计算 免责事由 

分 类 号：D922.294[政治法律—经济法学] D923[政治法律—法学] F832.3[经济管理—金融学]