The New Trend of Institutional Development of Financial Supervision:The Separation between Consumer Protection and Prudential Supervision

After the U S subprime mortgage crisis,the relationship between consumer financial protection and prudential supervision attracts extensive attention.After the profound reflection on the causes of the crisis,the United States issued Dodd-Frank Wall Street Reform and Consumer Protection Act,and established an independent consumer financial protection agency,resulting in the separation between consumer financial protection and prudential supervision.Meanwhile,Britain also issued a new plan for financial regulatory reform,and planned to establish a consumer protection and market management authority through legislation before 2012,which would be responsible for consumer financial protection and financial supervision.The emphasis on consumer protection is of great importance in global financial regulatory reform and relevant legislation,and a new pattern concerning the separation of consumer protection from financial supervision and the assumption of the function by a single agency is beginning to take shape,leading to new regulatory system such as the integration of unified supervision and decentralized supervision,and the integration of function supervision and institution supervision.