A Study on International Financial Soft Law and Memoranda of Understanding

• Main Authors: Chih-Wei Hsu, 許自瑋
• Other Authors: 汪信君
• Format: Others
• Language: zh-TW
• Published: 2017
• Online Access: http://ndltd.ncl.edu.tw/handle/um3a9r

碩士 === 國立臺灣大學 === 法律學研究所 === 105 === Global governance in the field of international financial regulation is dominated by “networks” and “soft law.” Networks of financial regulators worldwide, such as FSB, BCBS, or IOSCO, form the backbone of modern day efforts in harmonizing international financial legal norms and facilitating cross-border information exchange. These “transgovernmental networks” are distinct from international organizations in terms of their organizational form, composition, and the way they operate. One major characteristic is that they achieve regulatory ends through a set of legally non-binding norms called “soft law.” Though international financial soft law has no binding legal force, it is widely used as the main instrument for coordinating efforts in regulating global financial markets. Memoranda of Understanding, hereinafter MOUs, are a type of international financial soft law instrument commonly used for the purpose of exchanging cross-border financial information. This thesis intends to explore MOUs in terms of their contents, legal form, and effects. In addition, as in recent years the Taiwanese government actively engaged in signing MOUs with its foreign counterparts, this thesis also explores how MOUs would be beneficial in enhancing Taiwanese regulators’ capacity in handling cross-border cases, specifically focusing on combating financial crimes committed via offshore companies. This thesis proposes guidance as to how information obtained via MOUs should be evaluated, as compared with evidence obtained through formal international legal assistance. And finally, this thesis points out rooms for improvement in Taiwanese domestic laws relating to MOUs.