Abstract:

The original intention of various countries to build the financial futures investor appropriateness system lies in protecting the investors′ interests via distinguishing investors′ risk perception level and bearing capacity, providing differentiated markets, products and services, and establishing a compatible regulatory system to adapt to this. After comparing and analyzing the provisions of investor appropriateness system of overseas main markets, the paper finds that the design concept of investor appropriateness system lies in providing differentiated protection to investors based on their differences and the requirements of sales suitability for financial institutions shall be the core of the investor appropriateness system. Obviously, many defects exit in China′s financial futures investor appropriateness system. It is submitted that China shall enhance the legislative level and endow the system with legal basis, improve the product system and rule system, simplify the procedures for market access and reduce the access conditions, and transform to financial futures product investor appropriateness system.

Key words:

financial futures, investor appropriateness, professional investor, ordinary investor