從消極防禦到積極協助的監管政策 —重構《金融科技發展與創新實驗條例》新藍圖

Abstract

因應金融科技的顛覆性創新(disruptive innovation)時代來襲，2016年6月英國金融行為管理局(Financial Conduct Authority, FCA)實施顛覆性創新法制—監理沙盒(Regulatory Sandbox)。英國FCA建制監理沙盒後，於此監管Fintech的改革風潮下，不論是英美法系或大陸法系國家，都紛紛仿效英國FCA建立自己的監理沙盒。臺灣於此監理沙盒的全球風潮下，於立法委員的疾呼催促下，於2018年1月制定公布《金融科技發展與創新實驗條例》，並於同年4月底施行。 然，自2018年4月施行迄已7年，臺灣金融監理沙盒僅核准10件，其中也僅4件落地運營。反觀，英國金融監理沙盒實施已核准175件，香港核准361件，韓國324件。顯示，臺灣金融監理沙盒實施成效不彰，且似已成一攤死水，有積極檢討的必要。 臺灣金管會以職權命令創制「違反現行法令」為核准進入沙盒實驗的前提要件，且申請、進入及退出沙盒的交易成本過高、申請人資格條件嚴苛、檢附法定申請文件過於複雜、未定罰則不力沙盒參與者保護、申請人必須完全承擔沙盒實驗後無法運營的落地風險，以及缺乏吸引申請沙盒需求的誘因等諸多缺失。是以，臺灣金融監理沙盒法制有重新建構的必要，而非僅修正部分條文即可以矯正之。 建構友善的金融監理沙盒，有助於臺灣的新創生態環境，並促進金融科技發展，增進金融消費者便利，及落實普惠金融，以為國家永續經濟發展做出貢獻。本文建議重構《金融科技發展與創新實驗條例》，並更名為《創新金融促進特別法》(簡稱：新法)。新法分成總則、申請條件及程序、認定創新金融服務等、創新金融服務提供者的權利與義務、對創新金融服務的支持、罰則，以及附則等7章共38條條文。

To address the era of disruptive innovation in financial technology (Fintech), the UK's Financial Conduct Authority (FCA) implemented a Regulatory sandbox in June 2016. Following the FCA's establishment of this framework, many countries, whether under common law or civil law systems, have adopted similar Regulatory sandbox inspired by the UK model. In response to the global trend of Regulatory sandbox and strong advocacy from Members of the Legislative Yuan, Taiwan launched the Financial Technology Development and Innovative Experimentation Act in January 2018, which came into effect in late April of the same year. Over seven years have passed since the launch of Taiwan’s Fintech regulatory sandbox in April 2018 and, to date, only ten cases have been approved, with four proceeding to operations. In comparison, the UK's regulatory sandbox has approved 175 cases, Hong Kong's 361 cases, and South Korea's 324 cases. This demonstrates Taiwan's Fintech regulatory sandbox has been ineffective, reached a standstill, and urgently required a thorough reassessment. Several shortcomings hinder the effectiveness of Taiwan's Fintech regulatory sandbox. The Taiwan Financial Supervisory Commission (FSC) has established an administrative order that uses "violations of existing regulations" as a prerequisite for entering regulatory sandbox. The costs for applying, entering, and withdrawing from the program are excessively high. The qualifications for applicants are stringent, and the required application documents are very complex. There are no defined penalties, which disadvantages participants of regulatory sandbox. Applicants must fully bear the risks of being unable to operate after withdrawing from the program. Additionally, there is a lack of incentives to attract demand for regulatory sandbox. Therefore, there is a need to restructure Taiwan's Financial regulatory sandbox framework, rather than simply amending certain provisions to correct the issues. Building a friendly Fintech regulatory sandbox can foster Taiwan’s startup ecosystem, drive Fintech innovation, enhance convenience for financial consumers, and promote inclusive finance. This, in turn, contributes to the nation’s sustainable economic development. To this end, this article recommends a complete reconstruction of the Financial Technology Development and Innovative Experimentation Act, renamed as the Promoting Innovative Finance Special Act (The New Act). The New Act consists of seven chapters and 38 articles, covering General Provisions, Application Conditions and Procedures, Recognition of Innovative Financial Services, Rights and Obligations of Innovative Financial Service Providers, Support for Innovative Financial Services, Penalties, Supplementary Provisions.