Abstract

Fintech "regulatory sandbox" refers to a "trial and error" regulatory mode in which financial innovative products or services audited by financial regulators can conduct business tests in a real or simulated environment within a certain time and scope. After passing the test, they can be fully promoted to the financial market and included in the normal regulatory scope. Consumer protection is an important part of the design of the "regulatory sandbox". Perfect and appropriate consumer protection measures are conducive to enhancing the confidence of financial consumers, promoting the maximization of the effectiveness of the "regulatory sandbox", helping regulators collect fintech data and improve fintech regulation. Financial consumer protection should run through the pre event stage, in-process stage and post event stage of the "regulatory sandbox", that is, the compensation and compensation for the damage to consumers' rights and interests. In order to better protect the rights and interests of consumers and ensure financial efficiency and financial security, China should pay special attention to the construction of the "regulatory sandbox" test consumer loss compensation rules and systems in the construction of the "regulatory sandbox" legal system, and combine it with China's legislative practice, through the provisions of the obligation to inform consumers of their rights and risks in the test, the establishment of the sandbox test financial consumer protection special fund The establishment of financial consumer compensation insurance system and the establishment of a complete relief mechanism to effectively protect the right to test consumers' property security and the right to claim compensation according to law.

Full Text
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