Financial Group Supervision Information Sharing Legal System

When the American subprime mortgage crisis by 2007 result in the global financial crisis, many countries are considering their domestic and global financial supervision system and the tendency of future reforms. undoubtedly, that tendency will be mandatory and easily operational.However, the lawful system of sharing information is the foundation of global financial supervision system in the world, which could maintain benign development of financial integration, and avoid another major global financial crisis.This paper firstly elaborates the importance of sharing information system and certain domestic law regulations about it.Meanwhile,the author introduces some international regulations of Eourpean Unionln's financial law as well as Basle Committee's douments relating to sharing information with a great deal of ink and put forward its advantages and disadvantages.It is obvious to find from the essay that China' sharing information law have much deficiency.Therefore,the author provides some suggestions in order to improve such system in China.Whatever,we could anticipate that some specific binding international regulations will appear to supply the former framework agreements.