Classification of Clients of Financial Firms: From Comparative Law Perspective
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.
Financial services, client, client classification, consumer, conduct of business
Banking and Finance Law | Commercial Law | Comparative and Foreign Law
Military Law Journal [軍法專刊]
軍法專刋社, Jun fa zhuan kan she
CHEN, Christopher Chao-hung.
Classification of Clients of Financial Firms: From Comparative Law Perspective. (2010). Military Law Journal [軍法專刊]. 56, (4), 78-100. Research Collection School Of Law.
Available at: http://ink.library.smu.edu.sg/sol_research/982