Regulations of Financial Derivatives and Investor Protection: Focusing on the Trading Mode of Structured Debentures

• Main Authors: Tsung-HanHsieh, 謝宗翰
• Other Authors: Chun-Jen Chen
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/92398638230907356403

碩士 === 國立成功大學 === 法律學系 === 100 === The demand of derivatives is continually increase since it designed as a hedging tool, there become lot of financial institutions such as banks introduced or to design various derivatives to compete this flourishing market. However, there becomes some voices ask for introspection that did the financial institution and investor understand what are they trading for after the event of structured debenture dispute, especially those financial instruments are well designed by fine financial engineering. If the investors don’t understand what they are trading for, the secondary market might become a casino in exquisite packaging. Thus, this thesis tries to discussing what kind of financial regulation should government take, the relax one that simply rely on market self-regulation mechanism to continue to promote innovation in the financial capital, or intend to protect the interest of the investor by way of legislation and administrative supervision. Therefore, this thesis will introduce what derivatives is to illustrate its complication, and tell what structured debenture is and its legal characterization, then will introduce what kind of financial regulation that U.S.A. take, finally advance the Conclusions and recommendations of this thesis after comparing the operation mode of the present legal system.