Research On China's Financial Customers Information Security Protection Regulations

Since financial crisis of The United States, countries gradually began to pay more attention to the protection of financial consumer rights.The legal protection of information security is the inevitable one among the financial consumer rights protection in the information age.Financial consumer has its particularity in the purpose, domain and range, different from the ordinary consumers and investors. The special range of the information security protection determines the context of protection different from the right of consumer privacy and knowing right. The new consumer rights law is too principle, doesn't have the direct regulation about the information security.The local legislation and regulations are usually one-sided with narrow scope of defects.We can take the essence ideas and regulations of mature mode of the foreign consumer financial information safety protection, perfect supervision mechanism, effective relief approach for reference, applying to our financial consumer's information security protection system. In particular, on one hand we should coordinate the relationship between the information security protection and social public interests and set up the mechanism of the corresponding education concept, on the other hand we should have different regulations of financial institutions, credit bureaus and regulators. First, we should strengthen the understanding of the financial institutions to keep information confidential so that we can build a complete set of internal rules and regulations in the financial institutions. Secondly, credit bureaus should strictly perform its obligations in accordance with the consumers' law and establish a unified platform for the inquiry. For example, we can take the foreign limited range of the information. Thirdly, the regulation mode, main body and principles of the context should be clear so that we can achieve the effective regulation of information security. Finally, we should take suitable remedy mechanism accordance with Chinese conditions, such as set up a unified financial consumer complaint and reverse the burden of proof.