A Discussion on the Protection of Financial Consumer

• Main Authors: Ching-Yun Chang, 張瀞云
• Other Authors: Tsun-Siou Lee
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/12781577126167204327

碩士 === 國立臺灣大學 === 財務金融學研究所 === 99 === In Taiwan, the combination of derivative financial instruments has become more complex. Financial consumers can buy a variety of financial products from every kind of financial institutions. In relative of financial institutions, financial consumers have lack of information of the financial products. As a result, every country pays more attention to the protection of financial consumers; in other words, the protection of financial consumers becomes more and more important. The regulation of financial institutions and their agents is also one of the former protections of financial consumers. Because of the different systems of appeals in every financial institution, financial consumers could not know which authorities they can appeal to when they facing the latter of disputes on the financial consumption. The main point of my thesis is about whether the Financial Supervisory Commission should establish an independent bureau of financial-consumer protection, and how to conform all sorts of financial laws and regulations. According to the independent bureau “CFPB” established by the US government in 2010, legislative model of “FSMA” and “COBS” established by UK government, we suggest to raise all regulation on financial institution and financial-consumer protection to a higher level through establishing a single, integrated, independent “Bureau of Consumer Financial Protection”, enacting “Law of Financial Service Industry” which conducts financial industry and “Law of Financial-Consumer Protection” which truly protects the rights of financial consumers. We believe these three suggestions can achieve the goal of financial innovation and consumer protection.