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05 June 2018
On May 2 2018 the People's Bank of China (PBC) released its Circular on Further Intensifying the Management of Credit Information Security.(1)
According to the circular, the PBC will intensify its management of credit information security by:
The circular's appendices include specific measures for points six and seven above. The assessment and rating results of the main aspects of credit compliance and information security (ie, the establishment of an internal control system, personnel and user management, compliance, information security and technical support, and the implementation of a credit-related information management system) have been classified into four levels (Levels A to D). The corresponding regulatory and supervision measures will be imposed according to these levels.
The security inspection measures in the relevant appendix provide further details on such inspections, including the subject matter and the specific procedures that must be followed.
For further information on this topic please contact Samuel Yang at AnJie Law Firm by telephone (+86 10 8567 5988) or email (firstname.lastname@example.org). The AnJie Law Firm website can be accessed at www.anjielaw.com.
(1) Further information is available here.
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