The People's Daily recently called for the China Banking Regulatory Commission (CBRC) not only to severely punish the non-compliance agencies but also to improve the relevant regulatory system. To make the regulation really effective and to build a "firewall" that divides the public from the private, the tangled interests between the two should be cut-off and remove the means where financial institutions and regulatory agencies could switch from one to another, so that regulators can identify the risks and judge the pros and cons outside of the interests of the institutions.