Core Viewpoint - A recent legal case involving an elderly investor and a bank has raised concerns about the responsibilities of financial institutions in selling investment products to older clients, particularly regarding risk disclosure and suitability obligations [1][5]. Group 1: Case Summary - An 80-year-old investor, Zhao, purchased a fund worth 1.05 million yuan through a bank, only to face a loss of nearly 300,000 yuan two years later, leading to a lawsuit against the bank [2][3]. - The first-instance court ruled that the bank bore 70% of the responsibility for the losses due to failure to fulfill suitability obligations, while the second-instance court reversed this decision, stating that Zhao should bear all losses [3][4]. Group 2: Legal and Regulatory Implications - The case highlights the ongoing debate about how to determine whether banks have adequately fulfilled their risk disclosure obligations, especially when selling high-risk products to elderly clients [5][6]. - Experts suggest that there is currently no explicit prohibition against selling high-risk products to older investors, provided they have the necessary investment experience and have undergone risk assessments [5][6]. Group 3: Recommendations for Financial Institutions - Financial institutions are advised to implement a "dual recording + follow-up" mechanism, particularly for investors over 65, and to establish a proactive notification system for significant losses [6]. - The case serves as a warning for the financial industry to enhance compliance in sales practices and for regulatory bodies to improve protections for elderly investors [6].

Core Viewpoint - The case highlights the legal responsibilities of banks in selling financial products and the implications of customer risk assessment, ultimately ruling that the customer must bear the investment losses due to market fluctuations and the bank's fulfillment of its obligations [1][8][10]. Group 1: Case Background - In 2021, an elderly customer, Zhao, invested 1.05 million yuan in a fund product through a bank branch, which later incurred a loss of approximately 300,000 yuan [1][3]. - Zhao filed a lawsuit against the bank branch seeking compensation for the losses incurred from the investment [1][4]. Group 2: Court Proceedings - The first-instance court ruled that the bank should bear 70% of the losses, citing the bank's failure to fully meet its suitability obligations [2][4]. - The bank appealed, arguing that it had fulfilled its obligations and that Zhao's losses were not directly caused by the bank's actions [6][9]. Group 3: Risk Assessment and Customer Responsibility - The second-instance court found that the bank had adequately assessed Zhao's risk tolerance and that the investment product matched his risk profile [9][10]. - Zhao's claims regarding the inadequacy of the risk assessment process were not supported by sufficient evidence, leading the court to reject his arguments [7][9]. Group 4: Final Ruling - The second-instance court ruled that Zhao must bear the actual investment losses, emphasizing the principle of "buyer beware, seller diligent" [8][10]. - The court concluded that the losses were primarily due to normal market fluctuations rather than any misconduct by the bank [10].

Core Viewpoint - The case revolves around an elderly investor, Zhao, who purchased a fund for 1.05 million yuan and incurred a loss of approximately 300,000 yuan, leading to a legal dispute with the bank regarding liability for the losses [1][2]. Group 1: Case Background - In January 2021, Zhao purchased the "Bosera Growth Navigation Mixed A" fund through the bank's app, spending a total of 1.05 million yuan [2][3]. - By April 2023, Zhao redeemed the fund for about 750,300 yuan, resulting in a loss of approximately 299,700 yuan [3]. Group 2: Court Proceedings - The first-instance court ruled that the bank should bear 70% of the losses, citing the bank's failure to fulfill its duty of suitability in advising Zhao about the fund's risks [4]. - The second-instance court overturned the first ruling, stating that Zhao must bear the full investment loss, emphasizing that the bank had fulfilled its obligations [9][10]. Group 3: Risk Assessment and Suitability - The bank argued that Zhao had undergone multiple risk assessments, which indicated a capacity to invest in medium-risk products, and thus the investment was appropriate [8]. - Zhao contended that due to his age and limited understanding of technology, he relied on bank staff for the investment process, questioning the validity of the risk assessments [6]. Group 4: Fund Performance - The fund in question, "Bosera Growth Navigation Mixed A," has a current scale of 3.269 billion yuan, with a net value of 0.6960 as of May 30, 2023, reflecting a one-year gain of 7.86% but a cumulative loss of 30.4% since inception [10].