臺灣博碩士論文加值系統

2008年全球金融危機使得監理機關對於金融監理制度的重視日益攀升，監理機關發現金融危機出現的頻率越來越高，金融危機造成的損害也越來越廣，監理機關投以金融機構更冗長、更複雜的要求，透過提升金融監理的複雜度以降低監理方面的不安全感。
由於金融市場的脆弱性、抽象性、遞延性，各國將金融監理前置化而制訂了各種監理制度與規範，以落實審慎總體審慎政策，同時控制系統性風險，其旨在穩固整個金融系統並防止金融危機再度發生，惟總體審慎政策係利用大量的資訊回報，以使監管者容易判斷情勢之發展，因此監管者對於監理流程之自動化要求提升，並要求金融機構建置好法令遵循，以提升監理之效率。
金融機構為了要迎合監理機關之監理需求，進而尋求科技之方法，以降低其法遵成本以及提升法遵流程之效率，金融機構應用科技之方法，提升了監理機關對金融機構之期待，即發展出Reg-Tech，然而，卻造成監理機關對於法令遵循期待越來越高之窘境，使得監理機關與業者之間的資源差距越來越遠，為了解決這樣資源的落差，監理機關開始尋找提升提升其監理效率之方法，即發展出Sup-Tech，而Reg-Tech及Sup-Tech均為監管科技底下之分類。
雖然國內目前對於監管科技之討論有限，本文藉由探討國際發布之文章以及英國、澳洲、美國之監理制度及監管科技之發展，再討論我國監管科技發展之動向，探討我國是否適合師法他國監管科技發展之方式。

The regulators had recently put emphasis on financial regulations since the 2008 global financial crisis. The regulators found that financial crises have occurred more frequently since 2008, and the spread of damages occurred by financial crises has become more and more extensive. In response to financial crashes, regulators have enacted complex and complicated regulations, they have increased the demands on high granularity, precision, and frequency for regulatory reporting in order to fulfill regulators’ expectations. Moreover, regulators have increased the appetite for efficient tools to handle the latest and complex regulatory and also compliance demands.
Due to the fragility of the financial market, regulators from all over the world legislated regulations to focus on macroprudential policy. They have also set out regulatory objectives, such as financial stability, systematic risk, prudential safety, and so on. However, regulators rely heavily on the reporting system to maintain prudential safety. In order to cater to the regulators’ expectations, the financial institutions seek for productivity tools to reduce compliance cost and to improve the compliance process. These factors drove the evolution and development of RegTech and SupTech. RegTech is the combination of regulatory and technology, and SupTech is the mixture of supervision and technology.
Although RegTech and SupTech has not been paid much attention in Taiwan, this study discusses the financial supervision system and the development of both technologies in international organizations, as well as, the United Kingdom, Australia and the United States of America. This research talks about the development of RegTech and SupTech in Taiwan, and it also drew a blueprint of RegTech and SupTech for Taiwan.

第一章 緒論 1
第一節 研究動機與目的 1
第一項 研究動機 1
第二項 研究目的 4
第二節 研究範圍與限制 6
第三節 研究方法 7
第四節 論文章節架構 7
第二章 監管科技的誕生與發展 11
第一節 監管科技之定義 11
第一項 監管科技之定義與分類 11
第二項 金融科技與監管科技 14
第二節 監管科技之發展 18
第一項 監管科技之發軔 18
第二項 監管科技1.0 20
第三項 監管科技2.0 25
第四項 監管科技3.0 31
第三節 監管科技之特性 34
第四節 監管科技與法令遵循 38
第一項 全球金融危機於法令遵循之衝擊 38
第二項 金融機構法遵作業流程介紹 42
第三項 監管科技於法遵作業流程之應用 44
第三章 監管科技與金融監理 47
第一節 金融監理之介紹 47
第一項 金融監理形成之背景 47
第二項 金融監理框架之起源 48
第三項 金融監理之目標 49
第二節 監管科技與監理機關之關係 53
第一項 現今監理機關面對之挑戰 53
第二項 監管科技帶來之契機 56
第三項 監管科技於金融監理之藍圖 57
第三節 監管科技與金融服務業之關係 61
第一項 金融服務業之現況 61
第二項 監管科技與金融服務業 64
第四節 監管科技與金融科技之互動 66
第一項 金融市場與金融穩定、金融創新 66
第二項 監管科技同時兼顧金融穩定及金融創新 67
第四章 各國監管科技之發展 73
第一節 英國監管科技之發展 73
第一項 英國金融監理體系之簡介 73
第二項 監管科技與金融行為總署 76
第三項 數為監理回報流程 79
第二節 澳洲監管科技之發展 81
第一項 澳洲金融體系之簡介 81
第二項 澳洲證券投資委員會與監管科技 84
第三項 澳洲金融監理署與監管科技 87
第三節 美國監管科技之發展 88
第一項 美國金融監理體系 88
第二項 美國監管科技之立法倡議 94
第三項 美國監管科技之應用 98
第四節 我國監管科技之發展 101
第五章 監管科技將面臨之挑戰 105
第一節 法令遵循將面臨之挑戰 105
第二節 監管者將面臨之挑戰 108
第三節 監管科技運用將面臨之挑戰 109
第四節 我國監理機關面臨監管科技之挑戰 112
第六章結論與建議 116

（一）中文部分
一、專書類：
1.中央銀行金融業務檢查處編輯，金融監理與風險管理選輯，一版，中華民國政府出版品，2006 年。
2.林莉蕙，強化我國當前金融監理制度之研究，中央存保公司，初版，1996年5月1日，頁5。
二、期刊論文類：
1.黃淑君，美國金融監理制度在金融產業變化中重新檢討之必要性，金融監理與風險管理選輯，中華民國政府出版品，2006年，頁143。
2.洪思竹，英國金融監理制度對臺灣之啟發，台灣國際法季刊，第12卷2期，2015年，頁124-125。
3.林正芳，銀行法規遵循及其功能，金融監理與風險管理選輯，2006年3月，頁399-406。
4.楊偉文，金融監理機關功能性組織調整之研究，臺北大學法學論叢，70期，2009年，頁173-175。
5.王文宇，論金融政策與金融監理法制，台灣本土法學雜誌，2004年12月，頁3-4。
6.臧正運，試論金融監理科技的分析框架與發展圖像，管理評論，37卷4期，2018年，頁22。
7.臧正運，建構台灣金融科技創新實驗的配套機制，月旦會計實務研究，6 期，2018 年，頁 21-29。
三、研究報告
1.陳麗寧、潘思璇，財務報表的國際共通語言－XBRL，證交資料，556期，2008年，頁14。
2.王堅權，XBRL的新面貌－Inline XBRL，證交資料，606期，2012年，頁8-9。
四、政府資料
1.金管會，金管會107年重要施政成果及108年工作重點，https://www.fsc.gov.tw/ch/home.jsp?id=97&parentpath=0,2&mcustomize=multimessage_view.jsp&dataserno=201901280001&aplistdn=ou=bulletin,ou=multisite,ou=chinese,ou=ap_root,o=fsc,c=tw&dtable=Bulletin，頁61，最後瀏覽日：2019/5/14。
2.金管會，金融科技發展策略白皮書，2016年5月，頁53-54。
3.監察院，107財調0006，，2018年3月7日，頁13。
4.財政部委託中央銀行檢查金融機構業務辦法第1條；復參照財政部（93年）台財融（六）字第 0936000318號令
5.金融控股公司及銀行業內部控制及稽核制度實施辦法第34條之1。
6.財政部委託中央存款保險公司檢查基層金融機構業務辦法
7.金融消費者保護法第1條。
8.公平交易法第1條。
9.洗錢防制法第3條各款之罪。
10.金融消費者保護法第3條第1項。
五、網路資料
1.2018資誠臺灣企業領袖調查報告，https://www.pwc.tw/zh/ceo-survey/2018.html，最後瀏覽日：2018/11/24。
2.金融科技爭霸戰 新加坡能，台灣為何不能？，https://www.gvm.com.tw/article.html?id=40253，最後瀏覽日：2018/11/27。
3.中國在FinTech獨占鰲頭，普及度69%，http://technews.tw/2018/06/11/china-fintech-popularity/，最後瀏覽日：2019/01/22。
4.中國大陸近年金融問題及監理改革，http://www.tpefx.com.tw/uploads/download/tw/China%27s%20financial%20reform.pdf，頁4，最後瀏覽日：2019/01/04。
5.孫欣、章友馨，金融機構法令遵循風險評估與法規資料庫，https://home.kpmg/tw/zh/home/insights/2018/01/law-compliance-risk-assessment-and-regulations-database.html，最後瀏覽日：2019/01/18。
6.曾韵執、劉曉軒，運用自動化與人工智慧提升法令遵循風險管理效率，勤業眾信，https://www2.deloitte.com/tw/tc/pages/risk/articles/regulatory-compliance-risk-management-efficiency.html，最後瀏覽日：2019/01/20。
7.臧正運，FinTech在臺灣創新與監理的平衡思維，https://opinion.cw.com.tw/blog/profile/52/article/3762，最後瀏覽日：2019/02/24。
8.中時電子報，餘額寶 躍居全球最大貨幣基金，https://www.chinatimes.com/newspapers/20170429000762-260309，最後瀏覽日：2019/02/24。
9.中時電子報，《金融》賴清德：積極發展FinTech，強化監理科技運用，https://www.chinatimes.com/realtimenews/20180906002273-260410?chdtv，最後瀏覽日：2019/5/14。
10.工商時報，金管會迎戰金融科技 將增聘監理科技人才，https://www.chinatimes.com/newspapers/20180205000219-260202?chdtv，最後瀏覽日：2019/5/14。
11.科技報橘，【普鴻科技即將上櫃】台灣金融支付龍頭，布局 AI 技術打造智慧金融，https://buzzorange.com/techorange/2018/12/07/provision-otc/，最後瀏覽日2019/04/27。
12.數位時代，第一銀行ATM被盜領七千萬，疑駭客攻擊感染惡意程式，https://www.bnext.com.tw/article/40184/BN-2016-07-12-191033-44，最後瀏覽日：2019/05/02。
13.iThome，【遠銀遭駭追追追】從孟加拉央行SWIFT遭駭，剖析駭客攻擊手法，https://www.ithome.com.tw/news/117384，最後瀏覽日：2019/05/02。
14.金融監督管理委員會，人力配置，https://www.fsc.gov.tw/ch/home.jsp?id=21&parentpath=0,1,11，最後瀏覽日：2019/5/15。
（二）英文部分
一、專書類
1.Battiston, Stefano, et al, COMPLEXITY THEORY AND FINANCIAL REGULATION, 351 Science 6275, 818 (19 Feb 2016).
2.BIS, BASEL II: INTERNATIONAL CONVERGENCE OF CAPITAL MEASUREMENT AND CAPITAL STANDARDS: A REVISED FRAMEWORK – COMPREHENSIVE VERSION (June 2006).
3.John Armour, et al, PRINCIPLES OF FINANCIAL REGULATION, Oxford University Press, 3-4 (2016).
二、期刊文獻
1.Franklin Allen, Elena Carletti, An Overview of the Crisis: Causes, Consequences, and Solutions, International Review of Finance, 5-7 (2010).
2.Douglas W. Arner, Jànos Barberis, Ross P. Buckley, FinTech, RegTech, and the Reconceptualization of Financial Regulation, 37 Nw. J. Int'l L. & Bus. 373 (2017).
3.Anne Helmond, Identity 2.0: Constructing identity with cultural software, In Proceeding of Mini-conference initiative, University of Amsterdam (2010).
4.See Lawrence G. Baxter, Adaptive Financial Regulation and Regtech: A Concept Article On Realistic Protection For Victims Of Bank Failures, 66 DUKE L. J. 567, 598-599 (2016).
5.Douglas W. Arner, Jànos Barberis, Ross P. Buckley, The Evolution of FinTech: A New Post-Crisis Paradigm?, 47 GEO. J. INT'L L. 1271, 1306-1313 (2016)
6.Lawrence G. Baxter, Understanding the Global in Global Finance and Regulation, in RECONCEPTUALIZING GLOBAL FINANCE AND ITS REGULATION, 30 (Ross Buckley, et al. eds., 2016).
7.Ross P. Buckley, The Changing Nature of Banking and Why It Matters, RECONCEPTUALIZING GLOBAL FINANCE AND ITS REGULATION, 9-27 (2016).
8.Merritt B Fox, et al, Law, Share Price Accuracy, And Economic Performance: The New Evidence, 102 MICH. L. REV. 331, 344-345(2003).
9.Taylor D. Nadauld, Shane M. Sherlund, The Role of the Securitization Process in the Expansion of Subprime Credit, working paper Federal Reserve Board, 27-32 (May 2009).
10.Andreas Krause, Exploring the Limitations of Value at Risk: How Good Is It in Practice?, 4 J. RISK FIN., 19 (2003).
11.Felix Salmon, The Formula that Killed Wall Street, 9 SIGNIFICANCE 16 (2012).
12.Jon Danielsson, et al, An academic response to Basel II, Special Paper-LSE Financial Markets Group, 3-5 (2001).
13.Douglas W. Arner, Jànos Barberis And Ross P. Buckley, The Emergence of Regtech 2.0: From Know Your Customer To Know Your Data, UNSWLRS 63, 12 (2017).
14.Willem Buiter, Lessons from the North Atlantic financial crisis, The First Global Financial Crisis of the 21st Century 129, 133 (2008).
15.Caner Bakir, The governance of financial regulatory reform: The Australian experience, Public Administration 87.4, 913-914 (2009).
16.Saqib Aziz, Michael Dowling, AI and machine learning for risk management, AI and machine learning for risk management, Palgrave Pivot, Cham., In Disrupting Finance 33, 45 (2019).
17.See Luca Enriques, Financial supervisors and Regtech: Four roles and four challenges, Revue Trimestrielle de Droit Financier 53, 3 (2017).
18.Douglas W. Arner, et al, FinTech and RegTech: Enabling Innovation While Preserving Financial Stability, GEO. J. INT'L AFF. 18, 47 (2017).
19.Douglas W. Arner, Financial Stability, Economic Growth and the Role of the Law, New York, Cambridge University Press (2007).
20.Ross P. Buckley, Reconceptualizing the Regulation of Global Finance, 36.2 Oxford Journal of Legal Studies 242, 242–271 (2016).
21.Kenneth Cukier and Viktor Mayer-Schönberger, Big Data: A Revolution That Will Transform How We Live, Work and Think (2013).
22.Steven L. Schwarcz, The Functional Regulation of Finance, SSRN Electronic Journal, 48 (2014).
23.Marc Pilkington, 11 Blockchain technology: principles and applications, RESEARCH HANDBOOK ON DIGITAL TRANSFORMATIONS, 225 (2016).
24.Melainie Fein, Functional Regulation: A Concept for Glass-Stegall Reform?, 2 STAN. J. L. BUS. & FIN. 89, 107 (1995).
25.Heidi Mandanis Schooner, Regulating Risk not Function, 66 U. CIN. L. REV. 441, 459 (1998).
26.Kenneth A. Bamberger, Technologies of Compliance: Risk and Regulation in a Digital Age, Texas 88 Law Review 669, 670.
27.
三、政府、國際組織資料
1.G20 Communique, London Summit Leaders Statement, 3-4 (2 April 2009).
2.Taylor D. Nadauld, Shane M. Sherlund, The Role of the Securitization Process in the Expansion of Subprime Credit, working paper Federal Reserve Board, 27-32 (May 2009).
3.Hyman P. Minsky, THE FINANCIAL INSTABILITY HYPOTHESIS, The Jerome Levy Economics Institute Working Paper No. 74, 7-9 (May 1999).
4.Institute of International Finance, RegTech: Exploring Solutions for Regulatory Challenges, 1 (Oct. 2015).
5.Institute of International Finance, RegTech in Financial Services: Technology Solutions for Compliance and Reporting, 5-8 (March 2016).
6.BIS, Sound Practices - Implications of fintech developments for banks and bank supervisors, Bank for International Settlements, 23-25 (Feb. 2018).
7.Office of The Comptroller of Currency, Supporting Responsible Innovation In The Federal Banking System: An OCC Perspective (March 2016).
8.ASIC, Further Measures to Facilitate Innovation in Financial Services, Consultation Paper 260, Australian Securities and Investments Commission (June 2016).
9.IOSCO, Technological Challenges to Effective Market Surveillance Issues and Regulatory Tools: Consultation Report, Madrid: Board of the International Organization of Securities Commissions, 14–15. (August 2012).
10.FSOC, FSOC 2016 Annual Report, Financial Stability Oversight Council (2016).
11.Antoine Bouveret, CYBER RISK FOR THE FINANCIAL SECTOR: A FRAMEWORK FOR QUANTITATIVE ASSESSMENT, IMF, 10-11 (2018).
12.Donato Masciandaro, Rosaria Vega Pansini, Marc Quintyn, The Economic Crisis: Did Financial Supervision Matter?, IMF Working Papers, 8 (2011).
13.Brenton Goldsworthy, David Lewis and Geoffrey Shuetrim, Apra And The Financial System Inquiry, APRA Working Paper 3, 2 (Jan. 2010).
14.Patrick Armstrong, Developments in RegTech and SupTech, ESMA, 2 (27 Nov. 2018).
15.Nora Gurung, Leon Perlman, Use of Regtech by Central Banks and its Impact on Financial Inclusion, SSRN 3285985, 16 (2018).
16.Katsiaryna Svirydzenka, Introducing a New Broad-based Index of Financial Development, IMF, Working Paper No. 16/5, 3-4(12 Jan. 2016).
17.Toronto Centre, FinTech RegTech and SupTech - What They Mean for Financial Supervision, Practical Leadership & Technical Guidance from Toronto Centre, 3 (Aug. 2017).
18.BEARING POINT, SURVEY: SHARED SERVICES INDUSTRY SPECIFICS AND TRENDS IN THE EUROPEAN FS MARKET, 7-10 (2011).
19.FATF, FATF 40 RECOMMENDATIONS (Oct. 2003).
20.Mark Adams, Fintech: ASIC’s Approach and Regulatory Issues, Melbourne Money and Finance Conference 10-12 (July 2016)
21.See Financial Stability Board, Artificial intelligence and machine learning in financial services - Market developments and financial stability implications, 39-40 (1 Nov. 2017).
22.Simone di Castri, Matt Grasser, and Arend Kulenkampff, Financial Authorities in the Era of Data Abundance RegTech for Regulators and SupTech Solutions, BFA, 7(Aug. 2018).
23.Phillip Hanratty, The Wallis report on the Australian financial system: summary and critique, Department of the Parliamentary Library, 1997.
24.ASIC, Response to feedback on REP 523 ASIC’s Innovation Hub and our approach to regulatory technology, Report 543, 4 (September 2017).
25.ASIC, ASIC’s Innovation Hub and our approach to regulatory technology, Report 523, 4 (May 2017).
26.U.S. Securities and Exchange Commission, Statement on Cybersecurity (20 Sept. 2017).
27.FDA, Excerpts from the Final U.S. Rule for Risk Based Capital Standards: Advanced Capital Adequacy Framework, the Federal Register, 491 (7 Dec. 2007).
28.Kenneth A. Bamberger, Technologies of compliance: Risk and regulation in a digital age, TEX. L. REV. 88 (2009), 669.
四、研究報告
1.Stacey English, Susannah Hammond, COST OF COMPLIANCE 2018, Thomson Reuters, 5 (2018).
2.US Financial Crisis Inquiry Commission, The Financial Crisis Inquiry Report - Final Report of The National Commission On The Causes Of The Financial And Economic Crisis In The United States (2011).
3.Deloitte, RegTech Is the New FinTech: How Agile Regulatory Technology Is Helping Firms Better Understand And Manage Their Risk, 4 (2015).
4.Francesco Pasti, 2018 State of the Industry Report on Mobile Money, GSMA, 5(2019).
5.Sean Carmody, APRA’S New Data Collection Solution Implementation Plan V1.0, APRA, 4-5 (April 2019).
五、網路資料
1.Raju Gopalakrishnan, Manuel Mogato, Bangladesh Bank official's computer was hacked to carry out $81 million heist: diplomat, REUTERS, (19 May 2016), available at https://www.reuters.com/article/us-cyber-heist-philippines/bangladesh-bank-officials-computer-was-hacked-to-carry-out-81-million-heist-diplomat-idUSKCN0YA0CH, (last visited: 02 May 2019).
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4.Gibson Dunn, Crutcher LLP, Financial Services Act 2012: a new UK financial regulatory framework - all change?, Lexology, (4 March 2013), available at https://www.lexology.com/library/detail.aspx?g=64fb8103-3f55-4489-91ea-e185a6bb72b5, (last visited 20 March 2019).
5.Caroline Binham, Anti-money Laundering Rules Need to be Toughened Up, Warns FSB, Financial Times (Dec 19, 2016), available at https://www.ft.com/content/99d0f7f7-a9cb-3096-99d6-1c4469f45fca, (last visited: 25 Feb. 2019).
6.FATF, International Standards on Combining Money Laundering and the Financing of Terrorism & Proliferation, (Oct. 2016), available at http://www.fatf-gafi.org/publications/fatfrecommendations/documents/fatf-recommendations.html, (last visited: 25 Feb. 2019).
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六、法條
1.Securities Investor Protection Act of 1970 (US), §5.
2.Dodd-Frank Act of 2010 (US) §1002(4)-(5).
3.Directive 2011/83/EU on Consumer Rights [2011] OJL 205/64.