Recently, the Yunnan Provincial Communications Administration issued a rectification notice on apps that infringe on the rights and interests of users.
According to the notice, in accordance with the Cybersecurity Law, the Provisions on the Protection of Personal Information of Telecommunications and Internet Users and other laws and regulations, and in accordance with the Notice on Carrying Out Special Rectification Actions for In-depth Promotion of App Infringement of Users' Rights and Interests (Ministry of Industry and Information Technology Information Management [2020] No. 164), the Yunnan Provincial Communications Administration entrusted the Internet Society of Yunnan Province to organize technical testing of some apps in Yunnan that have obtained telecommunications business licenses, filed or developers in the jurisdiction where they have obtained a telecommunications business license, filed or are registered as developers. Nine apps were found to have problems such as illegal collection and use of personal information.
"In view of the problems found in the test, please implement the main responsibility of the distribution platform in each relevant app store, and immediately notify the App operating units through the form of on-site letters, emails, telephones, etc. to complete the rectification in a timely manner." Each App operating unit shall complete the rectification within 10 days of the release of this notice in accordance with the requirements of the rectification notice, and give feedback to our bureau after the rectification report is stamped with the official seal of the unit. For those who do not rectify or rectify incompletely within the time limit without reason, our bureau will report to the Ministry of Industry and Information Technology for relevant disposal. Yunnan Provincial Communications Administration said.
Yinxi financial reporter noted that among the 9 apps released by the Yunnan Provincial Communications Administration, the app of the listed securities company Pacific Securities was on the list.
Specifically, the app name of this APP is "Tainiu", the application developer is Pacific Securities Co., Ltd., the application source is Xiaomi Store, and the detection version number is 4.0.2, and the problems are: the purpose, method and scope of collection and use of personal information are not clearly stated; the collection and use of personal information without the consent of the user; the collection of personal information unrelated to the services it provides in violation of the necessary principles; and the provision of personal information to others without consent.
In recent years, regulatory authorities have repeatedly issued documents emphasizing the standardized use of user data. In September 2019, the central bank issued the Notice of Chinese Min min bank on issuing financial industry standards to strengthen the security management of mobile financial client application software (Yinfa [2019] No. 237), which clearly requires that the entire financial industry needs to strengthen the protection of personal financial information.
It is understood that network service providers such as APP operating enterprises must not have 5 categories of situations in which citizens' personal information is illegally collected, including not disclosing the rules for collection and use, not clearly indicating the purpose, method and scope of information collection, and collecting and using personal information without the consent of users, etc. App operating enterprises are required to strictly carry out item-by-item self-examination and immediately rectify the acts or situations suspected of illegal collection. In addition, in December 2019, the Cyberspace Administration of China and four other departments jointly issued the "Method for Determining the Illegal Collection and Use of Personal Information in Apps", which provides guidance for app operators to self-examine and self-correct and netizens' social supervision, clarifying that various behaviors can be identified as "collecting and using personal information without the consent of users".
Pacific Securities is a small and medium-sized securities company in the industry, the development in recent years is quite unsmooth, the current market value is only about 20 billion, compared with other listed securities companies The gap is larger.
Yin persimmon financial reporter noted that in addition to its APP violations being named and required to be rectified, Pacific Securities has been full of loopholes in compliance in recent years, and has been subject to multiple regulatory penalties in the past year alone.
In October last year, the Sichuan Securities Regulatory Bureau issued a fine against Pacific, specifically that there were misstatements in the net assets of Tianxiang Environment at the end of 2020 and other financial data sponsored by Pacific Securities, while the company did not find the above problems, the opinions expressed were inconsistent with the facts, and the working paper was rough. The Sichuan Securities Regulatory Bureau decided to take regulatory measures against Pacific Securities by issuing a warning letter.
On December 1 last year, Pacific announced that the company received the Shaanxi Securities Regulatory Bureau's "Decision on Issuing Warning Letter Measures against Pacific Securities Co., Ltd.", the reason is that it did not timely announce the violation of the use of hancheng city investment funds in accordance with the regulations and the agreement, and second, it did not take sufficient measures to verify that Hancheng city investment did not disclose major lawsuits, major assets were frozen, and failed to pay off mature debts.