Of the three litigation cases, 1 case parties reached a mediation agreement, which was closed after the trial and was quickly fulfilled. The People's Court of Gulou District publicly pronounced the other two cases in the first instance, and ruled that China Bank should bear all the losses of the plaintiff's warehouse infiltration and 20% of the principal loss, return the deducted deposit balance in the plaintiff's account, and pay the corresponding capital occupation fee.
After the judgment of the first instance, the two plaintiffs appealed separately, claiming that BOC should compensate all its losses, demanding that the judgment of the first instance be revoked and the judgment be changed to support all its claims of the first instance.
After accepting these two appeal cases, Nanjing Intermediate People's Court formed a collegiate bench according to law, and held a public hearing on February 7, 20021year, and concluded the trial in the second instance on February 10, and publicly pronounced the verdict, dismissed the appeal and upheld the original judgment.
Nanjing Intermediate People's Court believes that BOC? Crude oil treasure this product was registered in China Banking Regulatory Commission on 20 17, and China Banking Regulatory Commission filed a lawsuit against Bank of China? The risk incident of crude oil treasure products was investigated and punished by the administration, but the financial supervision department did not recognize BOC sales? Crude oil products belong to illegal futures business.
Besides,? The implementation of 100% margin trading for crude oil products and the establishment of a compulsory liquidation line with a minimum margin ratio of 20% do not conform to the typical characteristics of leveraged trading. The appellant thinks that both parties are interested in investing? Crude Oil Bao's view that the Agreement on Personal Products in Financial Markets signed by Bank of China Co., Ltd. is invalid is unfounded and cannot be established.
At the same time, Nanjing Intermediate People's Court held that BOC adopted product agreement, official website and mobile banking APP. Help? Wait for the column? Crude Oil Bao gave a prompt and explanation on the applicable objects and risks of the products, and made a risk assessment on the sales objects before the products were sold, and fulfilled the appropriateness obligation of selling the products according to the bank's appropriateness standards. The appellant thinks that the Bank of China will? The view that crude oil treasure sold its products to investors with balanced risk assessment results, and did not give necessary risk warnings and explanations, and did not correctly fulfill its appropriateness obligations is unfounded and cannot be established.
As for the extreme situation that BOC did not consider the negative price of crude oil futures products in product design, did not remind investors of the risks caused by negative oil prices during trading, and failed to fulfill the agreement of compulsory liquidation when the margin adequacy ratio fell below 20% (inclusive), the first-instance judgment has made a determination and ruled that BOC should bear corresponding responsibilities. The appellant's view that BOC should compensate all its losses is unfounded and cannot be established.
Reflection? Crude oil treasure: banks shrink personal account transactions.
Taking stock of major events in China's financial market, BOC? The crude oil treasure incident must be among them.
The COVID-19 epidemic brought the economy to a complete standstill, the demand for crude oil dropped sharply, and the international oil price continued to plummet. At the end of March, the international oil price began to hover at the historical bottom of $20, and numerous domestic investors rushed to bargain for crude oil.
However, due to the limited investment channels of crude oil, including the investment threshold of 500,000 yuan for the crude oil in the previous period, and the restrictions on overseas investment, the crude oil in bank accounts without threshold and leverage has become a hot variety in the market under the marketing of banks.