The Banking and Insurance Regulatory Commission calls for strengthening the Construction of Consumer Rights and interests Protection system and Mechanism
Xinhua News Agency, Beijing, November 8 (Reporter Li Yanxia) the reporter learned from the China Banking and Insurance Regulatory Commission on the 8th that the Banking and Insurance Regulatory Commission recently issued a guiding opinion requiring bank and insurance institutions to strengthen the construction of systems and mechanisms for the protection of consumer rights and interests. Including the protection of consumer rights and interests into all aspects of corporate governance, the establishment of consumer rights protection review mechanism, improve consumer rights and interests protection internal assessment mechanism and so on.
The guidance on strengthening the Construction of the system and Mechanism for the Protection of consumers' Rights and interests by Bank and Insurance institutions requires that bank and insurance institutions should integrate the protection of consumers' rights and interests into all aspects of corporate governance. The board of directors shall bear the ultimate responsibility for the protection of consumer rights and interests, and the board of directors shall set up a consumer rights protection committee to ensure the effective implementation of the strategic objectives and policies for the protection of consumer rights and interests. And make it clear that the department performs the duties of protecting the rights and interests of consumers.
The guidance requires that bank and insurance institutions should strengthen the decision-making, implementation and supervision mechanism for the protection of consumers' rights and interests. Effectively strengthen the management of business behavior, give full play to the role of internal audit in correcting the protection of consumers' rights and interests, and the supervisory role of the board of supervisors on the performance of duties related to the management level; We will establish a review mechanism for the protection of consumers' rights and interests, and conduct consumer protection reviews of products and services provided to consumers in the aspects of design and development, pricing management, agreement formulation, and so on. The review of consumer insurance will be incorporated into the risk management and internal control system of bank and insurance institutions.
At the same time, the guidance requires that the internal assessment mechanism for the protection of consumers' rights and interests should be improved, and the internal assessment should fully cover the relevant departments and personnel, and be included in the organization's comprehensive performance evaluation system, accountability system and human resources management system. To strengthen and improve the information disclosure mechanism of consumer rights and interests protection, disclosure should fully consider the needs of consumers, help consumers fully understand their characteristics and risks before accepting products and services, and make more rational decisions.
In terms of supervision, the guiding opinions put forward that the supervision departments should strengthen the guidance and supervision on the construction of the system and mechanism for the protection of consumers' rights and interests in banks and insurance institutions under their jurisdiction, and bring the construction of the system and mechanism into the supervision, assessment and evaluation of the protection of consumers. The evaluation results of consumer insurance supervision are regarded as an important reference content for carrying out comprehensive supervision rating, allocating regulatory resources and taking regulatory measures.
The CBRC said that it will organize and urge bank and insurance institutions to implement the guiding opinions and comprehensively examine the existing problems and deficiencies from the aspects of corporate governance, organizational structure, and internal management. While developing business and preventing and controlling risks, we will effectively protect the legitimate rights and interests of the broad masses of financial consumers.