Regulation On The Cross-Border Flow Of Personal Financial Information

The development of technology has led the world into the “information society” and has changed the way that information flows around the world.The high degree of informationization in the financial industry,the globalization of the operation of financial institutions and the high mobility of people's lives have all made the crossborder flow of personal financial information an inevitable trend.However,though the cross-border flow of personal financial information can promote the development of national and commercial institutions and bring convenience to consumers,it may also pose potential threats to national security and personal rights.Therefore,the question how to balance the cross-border flow of personal financial information and personal financial information protection is an inevitable problem when regulating cross-border flow of personal financial information.With regard to this issue,the value orientation and regulation purposes of different countries or regions determine their balance of interests in the cross-border flow of personal financial information,and also determine the basic trend of the regulation path regarding the cross-border flow of personal financial information.This paper takes this idea as the main line and therefore introduces the following five aspects:The first chapter "Introduction: The Personal Financial Information and its Specificity" mainly describes the concept,source,boundary,and specificity of personal financial information,with a view to clarifying the connection and difference between personal financial information and personal information,as well as the basis for special protection.The definition of personal financial information is not only the basis for defining the scope and boundary of personal financial information protection,but also the basis for regulating of cross-border flow of personal financial information.The second chapter "The Cross-Border Flow of Personal Financial Information: Laissez-Faire or Regulation " discusses the necessity for analyzing the regulations regarding cross-border flow of personal financial information from following three aspects: the demand for cross-border flow of personal financial information,the potential harm of cross-border flow of personal financial information,and the lack of cross-border flow rules regarding personal financial information in China.The third chapter "Regulatory Practice of the Cross-Border Flow of Personal Financial Information: Extraterritorial Experience" mainly introduces the value orientation,position and logic of the two major systems led by the EU and the United States in the field of personal financial protection,and further introduces rules of regulation for cross-border flow of personal financial information formulated by the two major systems under the guidance of their value orientation and regulatory purposes,as well as the rationality and limitations thereof.The fourth chapter "The Theoretical Analysis on Regulation on Cross-Border Flow of Personal Financial Information" compares and analyzes the problems discussed in the third chapter "Regulatory Practice of the Cross-Border Flow of Personal Financial Information: Extraterritorial Experience" and the problems in the crossborder flow of personal financial information,including regulatory path of the crossboard flow of personal financial information,conflict and balance between cross-border flow and protection of personal financial information,as well as legal application of cross-border flow of personal financial information.The fifth chapter “Enlightenment and Suggestion on the Regulation on CrossBorder Flow of Personal Financial Information in China”,basing on the current situation of regulations of personal financial information in China and the above research,provides suggestions for improving the rules for cross-border flow of personal financial information and realizing the connection between domestic rules and international rules.