According to the Titanium Media App on August 9, the General Office of the China Banking and Insurance Regulatory Commission has recently issued the "China Banking and Insurance Regulatory Commission" to all China Banking and Insurance Regulatory Commission offices, large banks, joint-stock banks, foreign-funded banks, direct-selling banks, wealth management companies, insurance group (holding) companies, and insurance companies. Notice on Carrying out Special Rectification Work for Banking and Insurance Institutions Infringing on Personal Information Rights and Interests. The "Notice" pointed out that the organization's business behavior and management related to consumers' personal information processing activities since 2021 will be comprehensively surveyed, and the problems existing in the organization's personal information protection will be searched in depth, and a list of problems will be listed. The "Notice" requires that for the problems found in the rectification, the banking and insurance institutions shall file one by one to ensure that the rectification is in place and accountability is in place. Issues that violate the rules and regulations of the banking and insurance industry shall be handled in accordance with the regulations; improper operations shall be immediately stopped or corrected, and where personal information leakage and other serious violations of consumers' right to information security occur, accountability shall be held; Issues involving violations and crimes shall be transferred to judicial organs for punishment. (Source: China Securities Journal)
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