Research On Legal Issues Of Financial Holding Company Supervision System In China

Mixed operation is a global trend,and financial holding company,as a form of mixed operation,is the mainstream choice of carrying out comprehensive operation in our country.The financial holding company can enjoy economies of scale and scope economy and synergy effect of competitive advantage,but because of the complexity and particularity of its organizational structure,and the risk is different from the general financial institutions.Therefore,how to supervise the financial holding company is a subject worthy of further study.The financial supervision system of developed countries can be divided into umbrella regulation,unified supervision and Shuangfeng supervision,and different regulatory systems have different advantages.However,with the increasingly active economic globalization and financial innovation,financial supervision lags behind the shortcomings of the development of financial markets.The problems of regulatory vacuum,regulatory arbitrage and regulatory overlap emerge in endlessly.In 2007 the outbreak of the subprime crisis has exposed many financial problems in the supervision of the United States and England with the domestic financial supervision system to make snap reform,America gave the Fed's super regulator,the British also established a quasi bi-objective supervision model with the Bank of England as the core,and the two lessons system lack of supervision of the risk before the crisis,after the reform have set up a mechanism of macro prudential regulation for timely recognition and early warning system of financial risk.But in our country,the development practice of various types of financial holding companies of China's current financial supervision is a huge challenge,the absence of regulation under the barbaric growth in safety and stability of the financial system has brought many hidden dangers.Therefore,imminent reform of China's financial holding company supervision system,China should learn from the experience of other countries and regions,combined with China's national conditions,establish the supervision function of bi-objective regulatory model of financial holding company from the market access and exit,internal control,risk disclosure and other aspects of establishing and perfecting the supervision system of financial holding company at the same time,strengthen cross-border supervision,to fill the regulatory vacuum against regulatory arbitrage,so as to maintain the safety and stability of the financial system.