The China Securities Association recently released “Securities Business Model Practice No. 7 - Securities Company Risk Data Management”, which aims to standardize and guide brokers' risk data management work and enhance the industry's risk data management capabilities. The document puts forward recommended requirements for cross-border data security management. Brokerage firms with cross-border subsidiaries, such as those involving data exit, need to carry out cross-border data assessments on data types, scale, transmission routes, etc.; those involving the exit of personal information need to carry out personal information impact assessments; if data entry is involved, assessments need to be carried out in accordance with the laws and regulations of the country or region where the cross-border subsidiary is located to ensure legal compliance with data entry. In the face of domestic and foreign regulatory differences, brokerage firms can promptly identify and assess the impact of regulatory changes in each region on data crossing borders through a dynamic evaluation mechanism for domestic and foreign compliance differences.

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