Research On The Legal Regulation Of Information Sharing In Financial Holding Companies

In the digital economy era,the free flow of financial information is the key to the digital transformation of financial institutions and the resolution of financial risks.As a special financial information sharing scenario,financial holding companies play a role in demonstrating and promoting the development of digital finance.However,according to the provisions of the "Trial Measures for the Supervision and Administration of Financial Holding Companies" and the practical operation of the privacy policy,financial holding companies still face many problems in information sharing,including ignoring the differences in shared objects and content;opt-in chosen not only weakens the information synergies within the financial holding group cannot effectively protect personal financial information.The particularity of information sharing of financial holding companies mainly comes from three aspects: first,the particularity of the financial industry;second,the particularity of the organizational form of the holding company;and third,the particularity of personal financial information.The particularity of the financial industry is manifested in the fact that the financial industry is a highly informationbased industry;the development trend of financial mixed operation requires financial information sharing;and the high financial risk requires that financial information sharing must be restricted.The particularity of the organizational form of the holding company includes that the synergy effect is based on information sharing;and the control relationship can effectively reduce the risk of financial information sharing.The particularity of personal financial information is reflected in the complexity,high sensitivity,high value and publicity of personal financial information.In view of the problems faced by financial holding companies in information sharing,this paper combines the advanced experience of the United States and Chinese Taiwan,and conducts an analysis of the scope and conditions of information sharing by financial holding companies from the two dimensions of shared objects and shared content,and explores the scope and conditions of financial holding companies’ information sharing.It is clearly proposed that a hybrid authorization and consent model should be adopted according to the differences of shared objects,supplemented by a supporting sharing mechanism.Specifically: First,the information sharing between financial holding companies and affiliated companies within the group should adopt the opt-out consent model to give full play to the information synergy effect;relax the restrictions on the purpose of information sharing for some personal financial information that has little impact on the subject of personal financial information;The holding company shall be jointly and severally liable for information security risk events.Secondly,the information sharing between the financial holding company and the external affiliates of the group should adopt the opt-in consent model,taking into account the protection of personal financial information and the efficiency of the financial market;the information recipient should re-authorize the secondary use of the received personal financial information;financial holding The company assumes additional responsibility.Finally,the principle prohibits financial holding companies from sharing information with non-affiliated companies,unless otherwise required by law.Finally,about the improvement of the information sharing mechanism of financial holding companies.First,the financial holding group should establish a financial technology subsidiary to manage information sharing activities full-time;improve the privacy policy statement;build an "information firewall" system.Secondly,the information sharing of external affiliates of the financial holding group should establish a whole-process management mechanism of pre-verification,continuous inspection during the event,and deletion after the event.Finally,the supervision of financial data should be strengthened,and the information sharing behavior of financial holding companies should be regulated.