On Legal Regulation Of Cross-border Financial Groups

Multinational financial conglomerate is a new type of financial institution, which derives from multinational bank. Multinational financial conglomerate can supply integrated financial services for the customers throughout the world Because of the special institution structure and business-operating style of multinational financial conglomerates, it issues some challenges to the traditional financial supervisory system.From the legal perspective, this thesis attempts to study the supervisory system of multinational financial conglomerate in the line with state supervision to international supervision by the way of comparative method and material methodThis thesis consists of five parts:Part Ⅰ firstly introduces the causes and the development of multinational financial conglomerate .Secondly, this part defines the concept of multinational financial conglomerate and introduces several types of multinational financial conglomerate. Finally, this part analyzes the supervisory problems that multinational financial conglomerate may cause.Part Ⅱ analyzes host countries' supervision on multinational financial conglomerate. As host countries, different countries have different legal regulations on financial institutions of multinational financial conglomerate. This part introduces WTO legal regime about financial services. As a member of WTO, the country should abide by the rules of WTO and open its financial markets. Thus WTO international legal regime can not only facilitate the development of multinational financial conglomerate but also affect the supervisory measures on multinational financial conglomerate.Part Ⅲ studies home countries supervision on multinational financial conglomerate. Home countries supervision is a kind of consolidated supervision. As a home country of multinational financial conglomerate, she not only supervises the different financial sector of multinational financial conglomerate, but also supervises the special issues of multinational financial conglomerate. This part also introduces several legal regimes and supervisory models that are adopted by different countries to supervise multinational financial conglomerate. Whichsupervisory model a country should adopt is based on the concrete conditions of this country.Part IV deals with the international supervision on multinational financial conglomerate. International supervision can overcome the shortage of state supervision. This part introduces several international supervisory institutions of different financial sectors, their works on supervision of financial conglomerates and the international supervisory standards, especially, the Reports on the Supervision of Financial Conglomerates by Joint Forura This part points out that the international supervisory standards that made by international supervisory institutions will be adopted by many countries when they legislate their inter supervisory rules, although the international supervisory standards are "soft law" that can't confine directly the countries in the world.Part V introduces the development of and supervision of financial holding companies, which are one type of multinational financial conglomerate in China. In this part, the author suggest that our country should reform our financial supervisory system on multinational financial conglomerate by making good use of foreign countries' sophisticated supervisory experiences and adopting international supervisory standards to promote the healthy and safe development of multinational financial conglomerates in China.The regimes of supervision of multinational financial conglomerate can't be fully stated by this thesis because it is a complex project This thesis just study the prime issues on supervision of multinational financial conglomerate to generalize some valuable conclusions and the study should be continued in the future.