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金融科技監理沙盒之現況及發展(Ⅲ)

—「金融科技創新實驗條例草案」評析—

中銀律師事務所 馮昌國合夥律師roick.feng@zhongyinlawyer.com.tw

在簡介金融監督管理委員會(下稱「金管會」)所擬「金融科技創新實驗條例」草案(下稱「監理沙盒草案」)內容後,本篇將接續自國際立法例的角度,簡要評析此草案之重點規定。

  • 申請與審查階段
  • 審查制度

在監理沙盒草案規範下,凡是欲申請進行創新實驗者,均須「事先」取得金管會的「核准」。然而,無論自新創業者資源耗費、市場進入速度減緩或政府行政資源節省等角度來看,事前核准制都應有放寬的空間。例如,澳洲的金融科技監理沙盒(下簡稱「監理沙盒」)規範(Regulatory Guide 257: Testing fintech products and services without holding an AFS or credit license,下簡稱「RG 257」)中,即是按申請人擬提供的金融商品或服務種類[1],兼採事前報備制及事前核准制,讓提供風險較低的金融商品/服務的業者,只需在開始進行監理沙盒測試前,向主管機關書面報備即可[2],毋須在漫長的申請、審查流程中空等。

  • 法規調整適用範圍之明示

申請人願花費相當時間、金錢申請進入監理沙盒測試,主要即是看中無須先取得相關金融執照即可進行產品的市場測試,而免去相關金融法規所課予的各種民、刑事及行政責任。但監理沙盒草案只在第25條列出申請人經審查通過後可免去的刑事責任,其他有何法規範可能與不可能被豁免或調整,均付之闕如。

就此,我國監理沙盒草案或可參考新加坡的監理沙盒規範(FinTech Regulatory Sandbox Guidelines,下簡稱「Guidelines」),具體例示個案上主管機關可能與不可能放寬的法規要求[3],一來,可讓擬申請適用者事先判斷有無耗費相當資源申請的必要,二來,亦可在一定程度上節省金管會用於案件審查的行政資源。

  • 審查標準之明確化

就監理沙盒草案第6條所列各款要件之審查標準,依同法第18條規定,將由金管會另定之,至於其制定方向,目前尚不可知。為使申請人有明確方向得以依循,並縮短申請與審查的流程,本文建議在相關辦法中,金管會或可參酌新加坡[4]與英國[5]政府的作法,具體說明其審查申請人是否符合各項要件之評估重點,並予以舉例,以減少申請人時間、金錢及政府行政資源的耗費。

  • 審查完成後
  • 審查結果之揭露

依監理沙盒草案第9條規定,在申請案件審查完成後,金管會須將「相關資訊」揭露於其網站,至於何謂「相關資訊」,此條規定並未言明,立法說明中亦無舉例。然而,申請人申請時須說明其資金來源、商業模式之創新性…等資訊,涉及諸多申請人之商業機密,若無限制地被揭露,對申請人未來的發展將有莫大影響。因此,本文建議可參酌英國Financial Conduct Authority目前的作法,僅揭露「申請通過者」之公司名稱與業務簡述[6],或改以另種規範面向:讓申請者有一定程度的參與數,自行決定適合公布哪些資訊,以彰顯「群眾治理」(Crowd Government)的創新法治理念,以兼顧消費者權益及申請人商業機密之維護。

  • 創新實驗之期間

依監理沙盒草案第8條第1項規定,通過審查者的實驗期間原則以「6個月」為限,例外得向金管會申請延長最長「6個月」。然而實務上,實施創新商業模式的業者,多需經歷數次商業模式的驗證與調整,方可確立市場接受度高的產品模型,6個月的實驗期限,實難以使業者達此目標。更何況,我國監理沙盒草案已採取事前核准制,申請人既已通過金管會的嚴密審查,則放寬適用期限,實有其依據。此外,依監理沙盒草案目前的規範,縱使已通過審查的業者可另申請延長實驗期間6個月,但此仍是採取事前核准制,換言之,業者又得歷經申請、審查的繁複流程,實屬過苛。

反觀澳洲政府的作法,業者即便未經事前核准,適用監理沙盒的期限就可達「12個月」[7],當需要延長適用期間時,才需事先向主管機關申請[8]。舉輕以明重,我國若確定一律採取事前核准制,實驗者既業經金管會嚴密審查,則更該放寬適用監理沙盒的期限至少到12個月,較為合理。

  • 實驗結果之函報期限

依監理沙盒草案第14條第1項規定,在實驗結束後「1個月內」,實驗者應將實驗結果函報金管會,並說明參與實驗者權益保障、同法第12條所定各項管理措施及應辦理事項之遵循、資訊安全控管等事項之妥適性,內容甚為繁雜,1個月的期限實際上是不夠的。

反觀澳洲RG 257之規定,僅要求實驗者於實驗期間結束後「2個月內」提具簡短報告即可[9],可供我國參考。

由金管會此次立法,可知政府面對金融科技發展潮流的開放態度,然除上述各點外,我們也期待當確有必要檢討修正相關金融法規時,能有一定機制使完成實驗之業者,在原定實驗期間結束後、相關法規修正實施前,得繼續豁免或調整適用各該規定。此外,因金融科技業務同時涉及金管會與其他目的事業主管機關之管理範疇,故政府也應有一跨部會的單位,能有效協調各部會徹底執行監理沙盒草案的內容,始可達其立法美意。



[1] 參RG 257.56 ~ RG 257.64。

[2] RG 257.41: “You do not need to apply to obtain the benefit of the fintech licensing exemption. If you meet the eligibility requirements and follow the conditions set out in the relevant instrument, you are legally entitled to rely on the exemption for 12 months.”

RG 257.42: “However, you must notify us before you start relying on the fintech licensing exemption, and provide certain information to us: see RG 257.110–RG 257.115. See Section E for more information about relying on the exemption.”

RG 257.110: “Before you can rely on the fintech licensing exemption, you must provide ASIC with written notice of your intention to rely on the relief, and supply us with certain information. You do not have to ‘apply’ to rely on the fintech licensing exemption.”

RG 257.117: “While we will not undertake a detailed assessment of the information you provide (as we would for an application for relief or application for a licence), we will check that all the required information has been provided before you are eligible to rely on the fintech licensing exemption.”

[3] Guidelines 2.3: “Depending on the financial service to be experimented, the applicant involved and the application made, MAS will determine the specific legal and regulatory requirements which it is prepared to relax for each case. Please refer to ANNEX A for examples of the legal and regulatory requirements that MAS may consider relaxing for the duration of the sandbox, as well as those which MAS intends to maintain.”

[4] Guidelines 8.3: “To illustrate the application and approval process, ANNEX C provides a case study on how an application that meets MAS’ expectations is processed, which will allow for a sandbox to be implemented.”

[5] Financial Conduct Authority網站,https://www.fca.org.uk/firms/project-innovate-innovation-hub/regulatory-sandbox

(最後瀏覽日:03/11/2017)。

[6] Financial Conduct Authority網站,https://www.fca.org.uk/news/press-releases/financial-conduct-authority-unveils-successful-sandbox-firms-second-anniversary(最後瀏覽日:03/11/2017)。

[7] RG 257.39: “In addition to the options outlined in Section B, we have made ASIC Corporations (Concept Validation Licensing Exemption) Instrument 2016/1175 and ASIC Credit (Concept Validation Licensing Exemption) Instrument 2016/1176, which allow eligible businesses to test certain products and services for 12 months without needing to obtain an AFS licence or credit licence, respectively. Collectively, we refer to these instruments as the ‘fintech licensing exemption’.”

RG 257.41,參註2。

[8] RG 257.124: “If you apply for an extension or variation to the conditions of relief for the fintech licensing exemption, we will treat this as an application for individual relief. This means we will assess your application according to our policy in RG 51: see Section G.”

[9] RG 257.120: “We ask that testing businesses that rely on the fintech licensing exemption provide us with a short report within two months of the end of their testing period.”