Classification of Clients of Financial Firms: From Comparative Law Perspective

Alternative Title

由比較法觀點論金融機構客戶之分類

Publication Type

Journal Article

Publication Date

8-2010

Abstract

The purpose of this article is to examine current regulations under Taiwan law with regard to classification of clients of financial firms in Taiwan from the perspective of comparative law. After comparing with relevant laws in the EU, UK, USA, Hong Kong, and Singapore, this article argues that there are certain points worth further consideration and revision under Taiwan law: first, the level of current regulation in Taiwan and its scope are rather limited compared with foreign laws; secondly, it is necessary to introduce other standards than mere ‘total assets’ in order to determine a ‘large’ enterprise; and thirdly, current Taiwan law fails to cover unincorporated business undertakings and arguably stretch too far for non-business entities. These points worth legislators and regulators to consider in the future to complete conduct of business rules for financial firms in Taiwan.

Keywords

Financial services, client, client classification, consumer, conduct of business

Discipline

Banking and Finance Law | Commercial Law | Comparative and Foreign Law

Publication

Military Law Journal [軍法專刊]

Volume

56

Issue

4

First Page

78

Last Page

100

ISSN

0529-5483

Publisher

軍法專刋社, Jun fa zhuan kan she

Comments

軍事學術期刊

Additional URL

http://www.mnd.gov.tw/Upload/201008/(%E7%89%B9%E5%88%A5%E4%BC%81%E5%8A%833)%E7%94%B1%E6%AF%94%E8%BC%83%E6%B3%95%E8%A7%80%E9%BB%9E%E8%AB%96%E9%87%91%E8%9E%8D%E6%A9%9F%E6%A7%8B%E5%AE%A2%E6%88%B6%E4%B9%8B%E5%88%86%E9%A1%9E--%E9%99%B3%E8%82%87%E9%B4%BB.pdf

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