Fintech Regulation from the Perspectives of Principles of Financial Regulation and Consumer Protection:Critical Analyses on the Bill of Financial Technology Innovation and Experiment Act Drafted by the Executive Yuan of Taiwan

Abstract

為建立安全之金融科技創新實驗環境，以科技發展創新金融商品或服務，強化金融之可及性、實用性及品質，行政院會於二○一七年五月四日通過金管會擬具之「金融科技創新實驗條例」草案，正式將金融科技監理沙盒法制化，並送請立法院審議。本文擬自金融監理理論、破壞式創新之監理原則、金融科技監理模式選擇及國際比較之觀點，檢驗金融科技創新實驗條例，並提出修訂建議。

For the purpose of establishing an experimental environment for FinTech start-ups so as to utilize technologies to innovate financial products and service and to facilitate financial inclusion, the general assembly of the Executive Yuan passed the Draft Bill of Financial Technology Innovation and Experiment Act and submitted it to the Legislative Yuan for review and enactment. This article will conduct critical analyses on this Bill from the perspective of general principles of financial regulation, regulatory rationale of disruptive innovation, the regulatory model of FinTech and comparative law. In the end, this paper will deliver a proposal of necessary amendments for the Bill.