Alternative Title

零售市場投資產品之法律糾紛、訴訟風險及投資人保護:台灣有關連動債及共同基金訴訟之實證研究

Publication Type

Journal Article

Publication Date

6-2015

Abstract

This article analyses the results of 322 lawsuits regarding retail mutual funds and structured notes in Taiwan between 2000 and 2012 and their relationship with other factors such as investors’ personal characteristics, main arguments and causes of action. This article has the following major findings: (1) the winning rate for investors was quite low, meaning that banks face low legal risk from misselling claims; (2) investors were not better off by filing a complaint to the Banker’s Association; (3) we have not proved the courts showing preference for investors with certain personal traits due to limited information available; (4) a plaintiff’s winning rate does not vary much from one argument to another, except for arguing formation of contract, but our research shows that more might have to be done to clarify post-contractual duty of banks; (5) there is also no proof showing that certain causes of action or litigation strategies would help investors winning a judgment and we have not proved that filing more causes of action would help to increate a plaintiff’s chance of winning. Our findings worth regulators and legislators to reconsider regulatory policies for investor protection as well as dispute resolution for financial consumers in the future to offer more complete protection of financial consumers.

Keywords

Empirical study, legal risk, investment disputes, retail investment products, mutual fund, structured note, trust, bank, financial consumer protection

Discipline

Legal Studies | Regional Economics

Research Areas

Law of Transnational Business; Commercial Law; Dispute Resolution

Publication

Chengchi Law Review

Issue

141

First Page

109

Last Page

196

ISSN

1023-9820

Identifier

10.3966/102398202015060141003

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