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在全球金融监管体制经历深刻变革的背景下,投资者权益保护主题的重要意义得以凸显。充分的投资者保护取决于金融机构的专业态度和专业职责的履行,据此,金融机构负有根据投资者的知识储备、风险承受能力、投资目标等具体情势,向其提供量身定制投资服务的“适当性义务”。此项义务通过调整金融机构向公众投资者提供投资服务的行为,对金融机构与公众投资者间进行利益再平衡。鉴于适当性义务的履行将不可避免地增加金融机构的运营成本,并极有可能影响投资者的利益,因此,明确界定适当性义务的适用范围也是构建整个制度亟待明确的内容。
Under the background of profound changes in the global financial regulatory system, the significance of protecting the rights and interests of investors has been highlighted. Adequate investor protection depends on the professional attitude of financial institutions and the performance of professional responsibilities. Accordingly, financial institutions are provided with tailored investment services based on the specific circumstances of investors’ knowledge reserves, risk appetite and investment objectives “Appropriate obligations ”. This obligation rebalances the interests of financial institutions and public investors by adjusting the provision of investment services by financial institutions to public investors. In view of the fact that the fulfillment of the due obligation will inevitably increase the operating costs of the financial institutions and will most likely affect the interests of investors, the clear definition of the applicable scope of the due diligence is also an urgent need to construct the entire system.