國立政治大學 國際金融學院

The economic progress in the past decades had marked a conspicuous rise for wealth preservation and wealth appreciation. The "Regulations Governing Banks Handling Financial Products and Services for High Asset Clients", issued by the Financial Supervisory Commission (FSC) on 7th August 2019, allow financial institutes to provide a much diverse range of financial products and services to high-asset customers. These relaxation measures will help banks to achieve stronger product development capability, propelling Taiwan into a high-end asset management center in Asia.

In 2017, Taiwan passed the "The Financial Technology Development and Innovative Experimentation Act and three Act-authorized regulations". As the fifth country to implement experiment sandbox following the United Kingdom, Singapore, Australia, and Hong Kong, the enactment of the regulations aims to reduce risks and prevent the violation of consumer rights attributed from developing new financial products. This also serves to impart impunity to the financial entrepreneurs so as to encourage the creation of new financial commodities. Recent decades have seen a dramatically accelerating pace in the development and adoption of new technologies, the impacts brought about by such changes thus identify the needs for the industry and policymakers to constantly keep pace with the development of new financial services and the demands persist to maintain risk control.

The financial industry had come to the era of Bank 4.0, but the tides of financial innovation and technological revolution also exposed deficit on regulations and policies. In response, the Financial Supervisory Commission in Taiwan, promulgated "White Paper on Fintech Development Strategy" in May 2016 to propel the institution of relevant legal compliance to regulate the provision of financial technology services while facilitating its development.

The Paris Climate agreement in 2015 heralded the importance of sustainable finance and inclusive finance. Corporate responsibilities and the sustainable developments had become the testing stones valuing the operation and management of financial institutions, driving them to look beyond the conventional book-values of accounting standards and financial reports. Such transition also brings in indicators such as the equator principles and responsible investment, while enterprises determining, assessing and managing environmental and social risk in project finance.