論金融科技與金融監理

Financial Technology and Financial Supervision

金融科技之破壞式創新風潮下，如何調整既有金融監理規範使金融穩定、消費者保護及金融科技創新三者取得均衡乃各國金融主管機關所面臨之難題。是以本文首先探討當前金融科技之意涵及其運用層面及影響；其次探討各國面臨金融科技衝擊於法規範的調適方式；並探討我國銀行法第 29 條之 1 阻礙金融新創發展之可能性及金融新創商品於既有法規範之適用可能；最後細究監理沙盒制度存在意義及其可能問題。
職此，於金融科技與現行法規調適之困境下，本文分析金融科技創新及金融科技監管模式，企圖提出我國法規調適之最佳實務模式。本文認為，雖透過實驗與主管機關溝通、調適監理沙盒制度之原則基礎監理或可為解決之道，然僅在無法認定、無法透過法規範解釋涵攝情形，始有監理沙盒制度運用之必要。本文建議引入日本法灰色地帶消除制度作為申請進入監理沙盒之前導程序，避免業者輕易進入實驗所產生行政怠惰與錯失創新良機之外部成本。進入沙盒完成實驗後，主管機關雖仍以原則基礎監理，惟在法規鬆綁與豁免階段，應有規則基礎監管之態度，賦予適度明確性，秉持「原則基礎監理為本，規則基礎監理為用」之立場。就以上內容希冀作為我國立法及金融主管機關，未來於法令或監理措施之思考立足點。

FinTech refers to the application of technology in the field of finance to provide the disruptive innovation of existing financial business models. FinTech can not only provide better convenience for financial consumers and reduce transaction costs, to achieve the goal of financial inclusion, but also help supervisors to improve supervision efficiency and reduce supervision cost with regulatory technology. However, FinTech is also problematic due to the impact of financial market stability and inadequate consumer protection, especially how the financial regulator should supervise and respond to the situation that the innovators of non-traditional financial institutions want to enter the financial market to provide better and cheaper services.
In particular, the traditional laws and regulations are facing rapid changes in technology, but they are still unable to respond to the needs of the times. Therefore, the discussion and selection of rule-based regulation and principle based regulation in the regulation adjustment regression are the important issues under the existing regulation issues. This paper focuses on the impact of FinTech innovation and its regulatory dilemma and proposes the best practice of supervision adjustment in our country.