金融機構負責人監理法制之研究——以金控與銀行董事兼職限制為中心

金融業本屬金融監管機關高度監管的行業，我國金融相關法規因此設有許多避免利益衝突之規範，尤其對於負責人兼任職務之限制，近期成為我國金融主管機近來關注的重點之一，在規範上有更嚴格的要求，並開展出金金分離原則、產金分離原則等監理政策。惟相關政策之具體內涵並未於法規中明確定義，實務上亦引起廣泛討論，本文將從負責人兼任職務之限制作為切入點，探討該制度背後相關監理原則之法理及目的，確認我國負責人監理規範內容是否能完整涵蓋相關原則之具體內涵，以及是否足以達成監理目的，並進一步思考絕對強制金融機構負責人實行金金分離與產金分離是否適合我國國情、是否有助公司治理甚至促進我國金融市場之發展、乃至主管機關如何監理始能達成有效的管制目的。本文將以我國金融機構負責人之監理規範及現況分析開始，並探討兼職限制與負責人忠實義務之關係，完整梳理我國金融機構負責人之規範架構後，進一步討論我國金金分離原則、產金分離原則之法制基礎及目的以及前述原則在兼職限制規範架構下如何開展，並闡述主管機關近期相關的修法及改革措施，再從公司本身、股東、主管機關、社會大眾等各個面向出發，探討禁止兼職及容許兼職對各個層面的影響並比較其優劣，接著透過分析國際組織之指導原則及美國立法例，深入瞭解美國法上於「金金分離原則」之兼任職務限制及「產金分離原則」相關規範沿革及概念，並與我國政策進行比較，進而將針對我國與美國在監理目的上之差異進行探討，對我國現行負責人兼職法制提出建議，在制度層面提供可能之修正與發展方向，同時考量在金融科技發展、產業跨業整合之趨勢下，試圖展望未來建構負責人監理制度的政策方向，探尋對我國最妥適的監理方式，進而從公司治理的角度，提出在開放兼職的環境下應如何建置有效之管制措施，期能為負責人兼職制度之監理政策提供不同的參考觀點。

關鍵字

負責人兼職；忠實義務；金金分離；產金分離；公司治理；利益衝突；金融監理

並列摘要

The financial industry is highly regulated by the financial supervisory authority. Particularly, regulating directors’ concurrent posts has recently become a main concern for Taiwan’s financial regulator, which developed regulatory policies such as “separation of finance and finance” and “separation of commerce and finance.”. Nevertheless, as the specific content of relevant regulations is not clearly defined in the law, it arouse extensive discussion in practice. This thesis focuses on the restriction of directors’ concurrent posts, exploring the jurisprudence and regulatory purposes. Specifically, it discusses whether the existing regulations can achieve the regulatory purposes and examines whether the principles of “separation of finance and finance” and “separation of commerce and finance” are helpful for corporate governance and enhance the development of the financial market. In the end, this thesis proposes specific directions for the competent authority to supervise financial institutions to carry out the goal of effective control and management. This thesis begins with analyzing the existing regulations and qualification requirements for responsible persons of financial institutions in Taiwan. Then it discusses the restriction of directors’ concurrent posts and their duty of loyalty. After thoroughly reviewing the regulatory framework for responsible persons of Taiwan’s financial institutions, it explores the regulatory foundations and purposes of the principles of “separation of finance and finance” and “separation of commerce and finance,” articulating the legal amendments and reform measures adopted by the regulator. Subsequently, from the perspectives of the financial institutions, their shareholders, the competent authority, and the public, etc., this thesis probes into the influence of restriction directors’ concurrent posts and compares the advantages and disadvantages. By analyzing the guiding principles promulgated by international organizations and the U.S.’s regulations, it reviews the history, the concept of “director’s interlock,” and the policy of “separation of commerce and finance” in the U.S as a comparator with Taiwan’s policies. After comparing the differences between the regulatory purposes in Taiwan and that in the U.S., this thesis proposes suggestions for the existing restriction of directors’ concurrent posts and propose possible reform directions. Under the trend of Fin-tech development and cross(multi)-industry integration, this thesis expects to construct a future policy direction for regulating directors and seek the most appropriate regulatory methods for Taiwan. Specifically, in the aspect of corporate governance, this thesis proposes a more effective control measures that allow directors’ concurrent posts for the regulatory policies to refer to.

並列關鍵字

directors’ concurrent ； duty of loyalty ； separation of finance and finance ； separation of commerce and finance ； corporate governance, ； conflict of interest ； financial regulation