One year later, Mr. Wang redeemed the above-mentioned funds with a redemption amount of 290000 yuan and a principal loss of 210000 yuan. Mr. Wang was very surprised. After understanding, it is found that the fund belongs to the stock fund with index operation, and its expected risk and return are higher than those of money market fund, bond fund and mixed fund. It is a kind of securities investment fund with high risk, which does not conform to Mr. Wangs risk assessment results.
Mr. Wang failed to negotiate with the bank, so he sued to the court and asked the bank to compensate him for the loss of principal of 210000 yuan. In this case, the bank thought that it was right because when Mr. Wang purchased the fund involved in the lawsuit, the bank staff members had introduced the relevant information of the fund to him and gave a risk warning. The bank has fulfilled the corresponding obligations, and the bank does not have any improper recommendation behavior.
Chinas Interim Measures for the management of personal financial services of commercial banks stipulates the appropriate obligations of commercial banks when they recommend investment products to customers by using financial consultant services. One of the important points is to understand customers preferences, risk perception and tolerance, and sell appropriate products to suitable investors.
The bank and Mr. Wang form a legal relationship of personal financial services. After hearing, the court held that the bank still recommended the high-risk equity fund to Mr. Wang. The fund type is obviously inconsistent with the answers and assessment results of Mr. Wangs risk assessment questionnaire. Although Mr. Wang has signed on the relevant materials, he can not confirm that the bank has fulfilled its obligation of appropriateness. The bank should be responsible for the loss caused by the purchase of the fund involved.
According to the 2019 minutes of the national court civil and commercial trial work conference, issuers, sellers and financial service providers of financial products, as the sellers institutions, must fulfill the requirements in the process of recommending and selling bank financial products, insurance investment products, trust financial products and other high-risk financial products to customers, or providing services for high-risk investment activities Banks understand customers and products, and sell or provide appropriate products and services to appropriate financial consumers. The judge said that if the issuers and sellers of financial products fail to fulfill their due obligations, resulting in financial consumers suffering losses in the process of purchasing financial products, financial consumers can claim that the issuers and sellers of financial products bear the liability for compensation. If the sellers institution has fulfilled its obligation of appropriateness and the financial consumer makes an independent decision on the basis of fully understanding the nature and risks of relevant financial products and investment activities, it shall bear the benefits and risks arising therefrom. Source: surging news editor: Guo Chenqi_ NBJ9931
According to the minutes of civil and commercial trial meeting of national court of 2019, the issuer, seller and provider of financial services of financial products must perform the performance of the financial products as the sellers institutions in the promotion, sale of bank financial products, insurance investment products, trust financial products and other high risk financial products to customers, or in the process of providing services for high-risk investment activities The bank understands customers and products, and sells or provides appropriate products and services to the appropriate financial consumers.