A Study on the Transition of the Securities Broker-Dealer into Investment Bank in Taiwan- -Focusing on the Regulatory Scheme of the Investment of Securities Broker-Dealer

• Main Authors: Chiang, Ching, 姜晴
• Other Authors: Hsieh, Yi-Hong
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/z74s8v

碩士 === 東吳大學 === 法律學系 === 102 === This study was expounding and analyzing the competent authorities of Taiwan to relax the restrictions on re-investment of the securities broker-dealer, how to supervise or regulate the legal risks that may occur after relaxing the above-mentioned limitations, and the defect of the legal institutions and system with regard to the resolution procedure of our securities broker-dealer; furthermore, learning from "orderly liquidation authority" of Chapter 2 of the Dodd-Frank Act, so as to provide the proposals, opinions or suggestions on amending the laws or regulations. This study has six chapters, and summarizes as follows: Chapter 1: To comprise motives, purposes, realms, structure, methodologies, and limitations of this research for reader easily understanding this study. Chapter 2: First, to introduce the origin, role, type, definition and the scope of business of international investment bank; secondly, to brief the legal institutions and system of initial public offering (IPO) in US, mainland China and Taiwan in order to describe the function of the securities broker-dealer/investment bank in IPO and review our securities broker-dealer whether were playing the excellent role in IPO or not. Chapter 3: The first subpart of this chapter was introducing the definition and its scope of business of our securities broker-dealer; the second subpart was briefing the definition, laws and decrees, object and its intimations with reference to the term "re-investment" in the Company laws of Taiwan and financial regulations of US, mainland China and Taiwan; the third subpart was expounding the origin, type, object and its intimations regarding "re-investment" in the securities laws and regulations of Taiwan; furthermore, make the brief conclusion for this chapter. Chapter 4: First, to expound the necessity of securities supervision and regulation from the economics viewpoints; secondly, to brief the legislative history and system of securities supervision and regulation in US; finally, to dissertate the main provisions of the Dodd-Frank Act with respect to securities supervision and regulation for subsequent discussion. Chapter 5: This chapter was discussing from the origin and theory of conflict of interest, first, to explain respectively the legal institutions and system of preventing from conflicts of interest in US and Taiwan; secondly, to analyze the necessity of reservations or abolishment regarding "too big to fail (TBTF)"; thirdly, to elaborate "orderly liquidation authority" of the Dodd-Frank Act and compare with the Federal Deposit Insurance Act, US Bankruptcy Code, and the bankruptcy law of Taiwan; moreover, to expound the defect of the legal institutions and system with respect to the resolution procedure of our securities broker-dealer so as to provide the proposals, opinions or suggestions on revising the law or regulations; finally, to discuss the subjects concerning the limitation or boundaries of the bailout obligations, i.e. "source of financial strength", between the securities broker-dealer and its failure investment companies; the influence on the minority shareholders or creditors while the securities broker-dealer were engaged in "re-investment"; and the presumption of the "business judgment rule" whether could be applied to the among conglomerate etc. Chapter 6: Do not want to repeat or summary the aforementioned contents from chapter 1 to chapter 5 in this chapter, hence only to conclude shortly by the prospect and development of our securities broker-dealer.