A Study on the Regulatory Scheme of the Financial Holding Company --- Analyzing Taiwan''s Enactments as a Comparative Legal Study of Legislations in the US and Japan

• Main Authors: Wen Ying Hsu, 許紋瑛
• Other Authors: Yihong Hsieh
• Format: Others
• Language: zh-TW
• Published: 2001
• Online Access: http://ndltd.ncl.edu.tw/handle/7nf9g8

碩士 === 中原大學 === 財經法律學系 === 89 === Abstract This research analyzes, from a comparative legal point of view, the financial holding company (hereinafter the "FHC") structure, under the US and Japanese regulatory regime , by which may serve as role models for Taiwan''s legislation in the future. This paper comprises six parts in which lay stress on the second to the fifth part, are to be summarized as follows: Part one illustrates incentives, purposes, realms, methodologies and structure of the research. Part two gives an overview to the system of the FHC. To be specific, it depicts niche of the rise of FHC as well as introduces legislative history of the FHC system in the US and Japan. Part three evaluates the feasibility, in the eyes of the law, of conducting "conglomerated M & A" by the FHC. The first subpart explains global trend of conglomerated M & A. Afterwards, the second subpart compares merits and demerits within various modes pertaining to the conglomerated M & A and suggests the US'' FHC mode as the recommendable conclusion. The third subpart discusses Taiwan''s current banking system and runs tests on probing the possible legal risks of establishing FHC in Taiwan. Part four first introduce the context of the US'' legislation of the FHC, afterwards, compares discrepancies between the FHC and BHC ; and examines categories, organizational vehicles, establishing requirements and business scopes, from rather a legal way of approach. Part five proposes alternatives to improve the supervision of the FHC. The first subpart touches on issues involved with risks and regulation in practice. The second subpart demonstrates importance of imposing the requirements of capital adequacy, internal control, external audit, covered transactions and the installment of the financial firewalls to the established FHC. The third subpart probes issues derived from the FHC and tries to suggest workable alternatives. Part sixth concludes with not only a supportive recommendation of establishing the FHC in Taiwan, but tentative propositions to the pending Taiwan''s legislation of the FHC as well.