The Information Duty of Financial Transaction:Focusing on the Civil Liability of a Financial Institution
Date Issued
2010
Date
2010
Author(s)
Chang, Hsin-Mei
Abstract
This thesis centers on the information duty of financial transaction, focusing on the financial institution’s civil liability. This topic is analyzed as follows. First of all, it’s appropriate to discuss the nature of financial transaction; therefore, the provided information under this kind of contract type is more specific. “Asymmetric Information” viewpoint helps us to learn more about the relationship between the financial institution and investors. However, in order to decide the scope and degree of the information duty, it is necessary that “asymmetric information” should be linked to the concepts of B2B (business to business) and B2C (business to consumer).
Secondly, from the view of the practice, financial dispute cases have increased recently. Moreover, the function of practice puts the financial consumer, plaintiff, at substantive and procedural disadvantage.
Then, covering the practical problems, this thesis explored different types of information duties, in addition to the general duty of information, include standard form conditions, doorstep selling, distance selling and advertising. Comparative law on these relevant issues provides us clear insight into our Civil Code and Consumer Protection Law. This study further suggests solutions to the deficiency in the law and practice.
Through the discussion, the awareness of consumer protection, especially on the information problems, cannot be overemphasized. Morever, the establishment of civil liability will enable financial consumers to obtain relief and help to direct financial institution’s mis-selling conduct. The information duty gives rise to the information flow in today’s modern society. Once the duty is violated, civil liability actually plays a significant role in the financial market.
Subjects
Asymmetric Information
Information Duty
Financial Consumer
Standard Form Conditions
Doorstep Selling
Distance Selling
Advertising
Type
thesis
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