[Direct answer]In the Beijing area, it is necessary to distinguish between regulatory requirements and contractual validity at two levels, and the processing path varies depending on the nature of the product. The so-called "double recording" generally refers to the audio and video recording conducted by financial institutions when selling wealth management products to investors, which is a regulatory requirement for sales appropriateness and process traceability. Failure to conduct double recording typically constitutes a violation of sales regulations, and investors can report this to regulatory authorities and claim that the sales institutions failed to fulfill their obligations of suitability assessment and risk disclosure. Whether a refund or contract termination is possible depends on the product type, contract provisions, and whether the sales institutions engaged in misleading sales or concealed risks. If investors purchase products that do not match their risk tolerance due to sales violations, they can claim compensation for the corresponding losses. However, the validity of the contract itself and whether it can be terminated should still be determined based on the contractual provisions and performance of the contract.

1. Problem background and typical scenarios

The obligation of appropriateness in the sale of wealth management and asset management products is a high-frequency entry point for investors to protect their rights. Typical scenarios include: investors failing to record or videotape the purchase of wealth management products at outlets, only to find later that the product's risk level is far higher than their own tolerance; sales personnel verbally promising guaranteed returns or high yields, but there is no corresponding statement in the contract or brochure; investors being elderly with insufficient risk awareness, yet the sales institution still recommends high-risk products; investors only discovering a lack of records of the purchase process after the product incurs losses. The core of the dispute lies in whether the sales institution fulfilled its obligation of appropriateness, and whether there is a causal relationship between the investor's losses and the sales irregularities. When handling such cases in Beijing, sales documents, risk assessment questionnaires, and communication records are important evidence, and relevant practices can be referenced for reference.Financial capital and cross-border transactions involving foreign countriesMy service experience.

II. Key points of contention

Focus One: The Nature of Double Recording: It belongs to the regulatory requirements for standardizing the sales process, and failure to fulfill these requirements typically constitutes a violation. Focus Two: Performance of the Duty of Appropriateness: Whether a risk assessment has been conducted, and whether the product's risk level matches the investor's tolerance. Focus Three: Adequacy of Risk Disclosure: Whether the product's risks have been truthfully explained, and whether there are misleading statements about guaranteed returns or income. Focus Four: Proof of Causal Relationship: Whether the losses were caused by sales violations or by other factors such as market fluctuations. Focus Five: Form and Scope of Liability: Whether compensation for corresponding losses can be claimed, or whether the contract should be rescinded or the investment funds returned. Focus Six: Impact of Product Nature: Different types of products have different legal relationships and liable parties. Focus Seven: Linkage between Complaints and Litigation: The regulatory handling conclusions serve as a reference for civil claims.

III. Professional analysis by Henglue Lawyers

The practical experience of Henglue Lawyers is that the absence of dual recording is a powerful entry point, but it should not be simply equated with an inevitable refund. Firstly, collect evidence of the fixed sales process: gather product manuals, risk disclosure documents, risk assessment questionnaires, contract documents, and bank transaction records to verify whether there are formalized assessments or missing steps. Secondly, focus on the obligation of suitability: check whether the risk level of the product matches the investor's assessment results. If there is an obvious mismatch but the transaction is still facilitated, this can be used as the core argument for claiming liability. Thirdly, review the risk disclosure and statements: organize the salesperson's statements about guaranteed returns, profits, and risks, and compare them with the contract text to determine whether there is misleading information. Fourthly, distinguish the nature of liability: sales violations may lead to regulatory action, and civil claims for compensation can be made; whether the contract can be rescinded or all investment funds returned depends on the product type and contract provisions. Fifthly, grasp the causality: investment losses are influenced by market factors, so it is necessary to demonstrate the extent of the regulatory violations' impact on the losses, and professional opinions can be used when necessary. Sixthly, make good use of regulatory complaints: reporting to financial regulatory authorities can be used as a means of obtaining evidence and applying pressure, and the regulatory conclusions can provide reference value for civil claims. Seventhly, pay attention to statutes of limitations and jurisdiction: assert rights in a timely manner and verify the dispute resolution and jurisdiction provisions in the contract. The above-mentioned approaches and ideas are based on the practical experience of Henglue Lawyers in handling related cases, and they can provide reference for other lawyers and investors when dealing with similar cases.\nFinancial capital and cross-border transactions involving foreign entitiesIt is consistent with my practical experience in this field.

IV. Practical suggestions and legal basis

Action recommendations: 1. When purchasing, pay attention to keeping the product manual, risk disclosure document, and sales communication records; 2. Check whether your own risk assessment results match the product's risk level; 3. Confirm in writing or keep records of verbal promises such as guaranteed returns and income; 4. Report sales violations to financial regulatory authorities and retain the acceptance materials; 5. Negotiate compensation with the sales party for losses, and if no agreement is reached, seek legal redress. Legal basis: - Articles 148, 577, and 584 of the Civil Code of the People's Republic of China (effective January 1, 2021) regarding fraud, breach of contract liability, and compensation for losses; - Articles of the Securities Law of the People's Republic of China (effective March 1, 2020) on investor suitability management; - Regulatory documents of financial regulatory authorities on audio and video recording of sales processes. For financial and investment disputes, please refer to the relevant provisions.\nFinancial capital and cross-border transactions involving foreign entitiesFor contract disputes, you can refer to the following for reference.Business and contract disputes in enterprisesFor cases involving the recovery of losses, you can refer to the following information for reference.Creditor's rights and debts, and enforcementThe specific application shall be subject to the currently effective laws, regulations, and judicial rulings.

5. Henglu Law Firm's Reminder

Firstly, failure to conduct dual recording usually constitutes a sales violation, but whether a refund can be granted depends on the suitability obligation and the causal relationship. Secondly, whether the risk assessment matches the product risk level is an important criterion for determining liability. Thirdly, oral promises must be documented, otherwise it will be difficult to provide evidence later. Fourthly, investment losses may be affected by market factors, so when making a claim, it is necessary to demonstrate the extent of the violation's impact. Fifthly, promptly reporting the matter to the regulatory authorities and preserving relevant materials can facilitate subsequent negotiations and litigation. For matters involving fund execution, the parties concerned may seek assistance through legal channels.Creditor's rights and debts, and enforcementUnderstand the path.

VI. Frequently Asked Questions

Q1: If there's no dual recording, can I withdraw my money from the financial product?

Not necessarily. Failure to conduct dual recording usually constitutes a violation of sales procedures, but whether a refund can be granted depends on the contractual provisions, the type of product, and whether the sales agency has fulfilled its obligations of suitability and risk disclosure. Additionally, it is necessary to determine whether there is a causal relationship between the violation and the losses. In the absence of contractual provisions, a comprehensive judgment should be made based on the information disclosure and performance of the contract.

Q2: What exactly are the requirements for dual recording?

Generally, it refers to financial institutions recording and videotaping the sales process when selling financial products to investors, which is a requirement of supervision regarding sales appropriateness and process traceability. The purpose is to regulate sales behavior and prevent misleading. The specific requirements shall be subject to the regulatory documents of the financial supervision department. Whether the funds can be refunded or not shall be determined based on the contractual provisions and factual circumstances.

Q3: If the salesperson verbally promises guaranteed returns, can that be used as evidence?

You can make a claim, but you need to keep evidence. It's more difficult to provide proof for verbal promises without any records. It is recommended to keep chat records, audio recordings, or written materials, and compare them with the provisions of the contract and the user manual to determine whether there are cases of misleading sales or fraud. It is advisable to account for each expense separately to avoid affecting the amount of refunds due to confusion over their nature.

Q4: Can I get all my money back if I suffer a loss?

Not necessarily. Investment losses are often affected by market fluctuations, and claims for compensation require demonstrating the extent to which the sales violations contributed to the losses. If it can be proven that the institution failed to fulfill its suitability obligations and led to mismatched purchases, compensation can be claimed for the corresponding losses, but it is usually not a full refund. By comparing the promotional materials with the actual situation, it can be determined whether rights can be claimed on this basis.

Q5: Should I file a complaint first or initiate legal proceedings first?

The two can proceed in parallel. Reporting to the financial regulatory authorities not only helps prompt the institution to handle the matter, but also enables you to obtain regulatory opinions as a reference for civil litigation. It is recommended to simultaneously fix evidence, assess losses, and file a lawsuit promptly when necessary, paying attention to the statute of limitations and the dispute resolution methods stipulated in the contract. The more complete the evidence is, the more convincing your claims for refund and compensation will be.

The above Q&A is mainly based on judicial practice in Beijing. There may be differences in the adjudication standards in different regions. It is recommended to consult a professional lawyer based on the specific circumstances of the case.

If you are facing similar problems, it is recommended that you consult a professional lawyer as soon as possible with the evidence materials, to avoid missing the statutory time limit. →Financial capital legal services·Beijing Henglue Law Firm

Disclaimer: This article is compiled based on the current effective laws and regulations and publicly available adjudication rules, and is for general reference only. It does not constitute a formal legal opinion on specific cases. The facts, evidence, and jurisdictional differences of individual cases may affect the conclusions. In the event of a dispute, please consult a practicing lawyer in a timely manner.