論中國大陸金融控股公司之創設併購模式──以金融機構股份轉換為中心

A Study on the Compulsory Share Exchange of the Financial Institutions on the Creation of the Financial Holding Companies

中國人民銀行為有效防範野蠻生長金融控股集團所可能帶來的系統性風險，及避免2008年美國大到不能倒的金融控股集團如倒閉所可能引發全球性金融海嘯的歷史重演，遂於2020年頒布《金融控股公司監督管理試行辦法》以填補金融控股公司市場准入條件缺位及其監管立法滯後於實務發展缺陷。惟其金融控股公司創設方式卻仍不具備金融控股公司常見公司股份轉換、三角合併與脫殼式營業讓與之創設併購模式，而有著難以簡易創設的制度性缺陷。是為構建中國大陸便於金融控股公司簡易架設的企業併購模式，當可借鑑臺灣《金融控股公司法》金融機構依公司股份轉換之方式轉換為金融控股公司之規範模式，於中國大陸《公司法》或《金融控股公司監督管理試行辦法》中引入金融機構股份轉換模式，以填補中國大陸金融控股公司創設併購模式不足。

Regulation Governing the Financial Holding Compamies of the People’s Republic of China has been issued on 2020 by the People’s Bank of China in order to make up for the deficiencies of the regulations on the governing financial conglomerate and financial holding companies.However, the forms of Mergers & Acquisitions on the creation of the financial companies lack rules of the compulsory share exchange, triangular merger and disposition of assets. In order to facilitate the establishment of financial holding companies, we should build the statutory share exchange rules on the Regulation Governing the Financial Holding Compamies of the People’s Republic of China or the Company Law of the People’s Republic of China based on the Compulsory Share Exchange provisions of the Financial Holding Company Act in Taiwan.