金融科技監理與我國金融監理沙盒制度之檢視

研究目的：本文旨在研究金融科技發展之特徵、風險以及國際上的主要監理策略，聚焦於英國、新加坡及澳洲等三國之監理沙盒制度設計，離析出較具共通性之本質要素，再據以檢視我國之金融科技發展與創新實驗條例之內容，最後歸結出我國金融監理沙盒制度的發展建議。研究設計／方法：比較法制分析方法。研究結果：本文歸結出我國金融監理沙盒制度在五大面向的發展建議：監理機關與業者間的協作機制、降低法規與監理標準不確定性安排、實驗完成後的落地機制、降低市場進入障礙與兼顧實驗參與者保障之安排，以及相關配套措施的建置及落實。研究限制／啟發：各國的監理沙盒機制近年持續發展與演化中，囿於研究時間與資源的限制，本論文無法針對世界各國沙盒制度的最新發展進行系統性的比較，只能選擇最具代表性的三個國家加以分析及深入探討。理論／實務／社會意涵：本文的主要社會意涵在於提出我國監理沙盒及金融科技監理之制度面與實務面運作的反思與調適建議，並提供策略面的分析框架供產官學各界作為未來政策制定與實踐之對話基礎。創見／價值：本文主要價值在於從策略角度分析國際上金融監理沙盒制度的本質要素，並與我國之制度進行對照。

關鍵字

金融科技；金融科技監理；金融監理沙盒；金融科技創新實驗

並列摘要

Purpose -This article aims to analyze the main characteristics and risks of FinTech development and the regulatory strategies employed by world's regulators to respond to those risks. It also studies the legal construct of the UK, Singapore, and Australia's FinTech regulatory sandbox regimes and identifies their common elements. Design/methodology/approach - Comparative legal and regulatory study Findings - This article examines whether the design of Taiwan's Financial Regulatory Sandbox Regime is in line with core elements of global regulatory sandbox regimes and concludes five dimensions for future reforms: mechanisms for regulator-industry collaboration, arrangements for reducing uncertainty over the applicable laws and regulatory standards, design of the post-experiment regime, arrangements for reducing entry barriers to the market while protecting the interests of participants in sandbox experiments, and mechanisms for supporting and facilitating FinTech innovations. Research limitations/implications - The world's regulatory sandbox regimes have been rapidly evolving for the past few years, and therefore due to the time and resource limit, this research can only chose the sandbox regimes from three most representative countries instead of conducting a systemic study of each country's sandbox regime. Practical implications/Social implications -The social implications of this article lie in its reflections on Taiwan's FinTech regulation, the regulatory sandbox regime and the analytical framework it proposes, to foster strategic thinking, build up foundations for constant dialogue among the industry, policymakers and academics. Originality/value - The core value of this article lies in its identification of the core elements of the regulatory sandbox regime from a strategic perspective and then based on which policymakers and regulators in Taiwan can fine-tune the country's sandbox regime.