累计认购期权(Accumulator)理财产品若干法律问题研究

A Research about Legal Problems Concerning Accumulator Product

累计认购期权(Accumulator)是发行人向投资人销售的金融衍生品,投资者实际上是和银行在做对赌,银行终是赢家。在境外此种产品是禁止向公民个人零售的。境外银行在大陆销售Accumulato时存在严重的欺诈行为。大陆对Accumulator有金融监管权但没有民事司法管辖权,中国银监会、中国证监会应当与香港金管局、证券及期货事务监察委员会进行协调,促使香港当局出面解决问题。投资人也可以在香港提起民事诉讼或仲裁,要求境外银行赔偿损失。境外银行应当主动担当,对投资人做出赔偿。

Accumulators are financial derivative products sold by issuers to investors. The investors are betting with banks actually, however the banks are the winners at last. Accumulators are forbidden to sell to the individual in abroad. The foreign banks cheat the investors seriously when they sell Accumulators in mainland. Chinese government has the supervision right to Accumulators, however Chinese court has no civil jurisdiction to the disputes arising from Accumulators. Chinese government should consult with HongKong government in order to resolve the problems. The investors may institute civil proceedings or arbitration in HongKong. The foreign banks should compensate the investors for the loss forwardly.