On The Systematic Construction Of Thefirewall System Of China's Financial Conglomerates

With the prevalence of financial liberalization,in order to enhance competitiveness and improve economic efficiency,the United States,Japan and other countries have implemented mixed operation mode,which has become the mainstream trend of financial development.Our country has followed the trend of financial development and explored the mixed operation,and then financial conglomerates emerged.Financial conglomerates is conducive to bringing scale and synergy benefits into play and improving the operational efficiency of financial institutions.However,financial risks are also easy to spread within the financial conglomerates,resulting in conflicts of interest and related transactions.Therefore,it is urgent to establish a firewall system to isolate risk communication and prevent conflicts of interest and related transactions.Firstly,this article analyses the necessity of building the firewall system of financial conglomerates.Secondly,it elaborates the concept and specific risk of financial conglomerates and the concept,concept discrimination,function and limitation of the firewall of financial conglomerates,analyses the related theories of the firewall of financial conglomerates.Thirdly,it analyses the current situation of the firewall system of the financial conglomerates,and draws a conclusion that there are some fragmentation problems in the firewall system of the financial conglomerates,such as the lack of unified guiding ideology,the lack of sharing elements of information standardization mechanism,the low restriction on related transactions,the lack of efficiency elements and the poor coherence and coordination with the current system.Based on the above problems,this article puts forward the principle of moderate degree and dynamic adjustment as the guiding ideology to construct and improve the firewall system of China's financial conglomerates,that is,the firewall system of financial conglomerates should neither be too strict nor too loose,and should be dynamically adjusted according to the development and change of financial market and the change of financial value orientation.Finally,combining with the useful experience of the financial frewall system in the United States and Japan,this article puts forward some specific recommendation from the aspects of information,business,personnel,capital and external connectivity,namely,improving the information sharing and disclosure system,strengthening the regulation of related transactions,strengthening the restrictions on personnel,improving capital adequacy and disclosure requirements,integrating legal norms and self-regulatory guidelines,etc.,In order to construct and improve our country's systematic firewall system of financial conglomerates.