| 摘要(英) |
This study confers how the Financial Consumer Protection Act has influenced the wealth management business in financial service industry after it’s carried out, and what common points and differences are between this act and the relative acts of other countries. If the deals of financial commodities and services occure contentions or quarrels, the consumer protection act had been used on this kind of event. Besides it, the contentions or quarrels were mediated by the guilds which is composed with the members in the financial service industry so that there had been a phenomenon, sportsmen and judgments are the same. The contracts that financial consumers signed with the financial service industry were lead by the financial service industry under the environment of the information asymmetry so that the rights and interests of consumers could not be guaranteed. In 2008, many domestic investors had no return for their hard-earned capital in Taiwan after the financial tsunami occurred, and the ugly side of the unsuitable sale of the financial service industry appeared by the way. It made the government and financial administration attach importance to financial consumers’ rights and interests. In June 2011, the act to defend financial consumers’ rights and interests mainly, the Financial Consumer Protection Act, was read the third time and passed by Taiwan parliament, and the Financial Consuming Dispute Resolution Center which is authorized by this act has begun to operate on January 2, 2013, an institute that deals with financial consuming dispute cases professionally. By the match of the act and the resolution mechanism, it’s expected that there is the implementation of the protection on consumers’ rights and interests.
This study stresses on differences of wealth management business in financial service industry between before and after the act’s carried out. Especially the used methods to market by the financial service industry must be adjusted in order to obey the act. Therefore, it is not the same as other relative papers that focus on researching in contents of clauses.
After gathering relative rules of several countries and referring relative literatures, the study found out that there is still some points of the act which are needed to be strengthened. For instance, what kind of the role the financial administration, the Financial Supervisory Commission should play, it must be more definite. Besides, the committee members of the Financial Consuming Dispute Resolution Center are part-time filled by experts and scholars so that it is difficult to resolute disputes deeply and professionally. Therefore, it is necessary to adjust the committee members from part-time to full-time in order to feature the credibility of this center.
Since this act is the newborn basis of consumer financial protection in Taiwan, there are still problems in the early implement. This study proposes the suggestions as follows for the possible improvements in the future:
1. Function and role of the competent authorities:
When the major controversial cases occur, the competent authorities should unify the legal interpretation in order to ensure the consistency and the fairness in principles with the similar cases in the future.
2. Full-time positions for the ombudsman committee members:
Currently, the ombudsman committee members are selected by the board from among fair and impartial persons and scholars. Offering fulltime positions to those members, like UK government, could help to establish their credibility.
3. Rapid and efficient model of decision-making:
In order to protect the right of customers, the currently ombudsman committee uses the collegiate system to make decisions, but the procedure needed is complicated and time-consuming. The rapid procedure designed by UK government is recommended to gain the time and cost savings.
4. Lack of compulsive force for investigations:
While handling financial consumer disputes, the ombudsman committee shall require the financial services enterprises to provide related information or documents fairly and reasonably.
However, this act doesn’t make any punishment for those financial services enterprises which refuse to cooperate. As a result, it is questionable whether the authority of the ombudsman committee could be fully performed.
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