论金融科技公司的适当性义务-《集美大学学报》（哲社版）

文章信息/Info

Author(s):: SHI Xuesen1; CHEN Binbin2; 1. Department of Law, Gannan Normal University, Ganzhou 341000, China; 2. School of Law, Huaqiao University, Quanzhou 362021, China

Keywords:: suitability obligation; fiduciary duty; financial technology company; asset management; robot advisor

摘要:: 保护投资者合法权益、维系金融稳定是适当性义务规则的重要使命。当前，以数据和技术为核心驱动的金融科技在助推金融生态圈数字化转型的同时，服务跨界化、用户画像趋同化、算法同质化等问题引发了投资者对金融科技公司的“图利禁止”“最佳执行”担忧，削弱了适当性义务规则的作用。为有效地应对金融科技带来的新挑战，监管机构有必要重新审视适当性义务的正当性依据，针对金融科技公司所提供产品、服务的特性，完善适当性义务规则的适用标准，明确具体的请求权基础，为保障“卖家负责”与“买家自负”提供完善的法律依据。

Abstract:: Protecting the legitimate interests of investors and maintaining financial stability are important missions of the suitability obligation rule. Currently, while financial technology driven by data and algorithm is boosting the digital transformation of the financial ecosystem, issues such as cross-border services, convergence of user profiles, and homogenization of algorithms have raised concerns among investors about the “prohibition of profit seeking” and “best execution” of financial technology companies, weakening the role of the suitability obligation rule. In order to effectively address the new challenges brought by Fintech, regulatory authorities should reexamine the legitimacy basis of suitability obligations, improve the applicable standards of suitability obligation rules based on the characteristics of products and services provided by financial technology companies, clarify the specific basis of claim rights, and provide a sound legal basis to ensure “seller responsibility” and “buyer responsibility”.