The Research On The Legal Regulations Of The Financial Intermediary Business

The trend of financial globalization and financial mixed operation of the international environment provide opportunities and challenges for the development of the financial industry. In order to adapt to the requirements of market development and international competition, the connection of capital and business continue to strengthen among banking, securities and insurance. Financial businesses affect each other and shows mixed trends. Financial intermediary business is the new business of bank, which different with the traditional model. It is called as off-balance sheet activities by western countries. Financial intermediary business is profitable for bands. With more and more financial innovation products were created, financial intermediary business share of commercial banks'income is also increasing. Comparing the income structure, the proportion of intermediary business is almost above 70% in the operating income of developed countries'banks. However, the intermediary business income is less than 25% in China. This gap is great."Financial disintermediation"is also weakened the bank's capabilities. So the development of intermediary business is determined to the bank's survival in the future competition.Due to fulfill WTO agreement on opening up the financial industry, we should face the challenge of the advantages of foreign financial institutions. The competition of the financial comprehensive product shows a fact that mixed operation not only the trend, also the fact. However, China has adopted the"separate operation, separate supervision"model, which strictly limited the development of the financial intermediary business. To this end, the legislature and regulator adjust the system and policy of the financial regulation, which provide the evidence of financial innovation. But the break of the subprime crisis, warm us to be more cautious in financial regulatory reform. We can learn from the measures of"deleveraging"of western countries'bank after the crisis, which put the financial derivations business into scope of regulation.This paper defines the financial intermediary business as off-balance sheet activities of western commercial bank, and comparing the changes of intermediary business of western developed country after the subprime crisis. It describes the risk of the intermediary business in the form of case, and analyzes the legal environment after the financial reform. So these will provide the reference for our regulation of the financial intermediary business.