政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/127719
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 110180/141113 (78%)
Visitors : 46571185      Online Users : 73
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/127719


    Title: RegTech and the New Era of Financial Regulators: Envisaging More Public-Private Partnership Models of Financial Regulators
    Authors: 臧正運
    Tsang, Cheng-Yun
    Yang, Yueh-Ping (Alex)
    Contributors: 法律系
    Date: 2019-04
    Issue Date: 2019-12-04 14:51:57 (UTC+8)
    Abstract: The rise of FinTech has not only advanced operational efficiency of the financial industry but also posed challenges to regulatory efficiency. There is a growing consensus on the importance and urgency for financial regulators to enhance their capacity through the use of RegTech. RegTech is widely considered as holding a great potential to facilitate the supervisory process and enhance the regulatory compliance. The current studies of RegTech, however, remains in its infancy. Most of the literature identifies and stock-takes different technologies and discusses how to apply them to facilitate financial regulation and supervision. These studies, in our view, mainly focus on the conduct aspect of RegTech. Of equal importance, yet largely overlooked, is the organizational aspect of RegTech, that is, how the organizational design and culture of a financial regulator affects its capability and suitability for applying RegTech to facilitate financial regulation and supervision. This paper attempts to fill this gap by offering more insights on how to organize a financial regulator to ensure its accountability, flexibility, and adaptiveness in the era of RegTech. We argue that such a regulator requires the character of a public-private partnership, which should contain some public elements to ensure the unbiasedness of financial supervision and some private elements to adapt to rapid technological changes. This paper firstly conducts a comparative analysis of the worldwide organizational models of financial regulators, by which we identify four major types and compare the different public-private relationship between them. The paper then applies the analytical framework of the Transaction Cost Economics, particularly the Theory of Firm and the Comparative Institutional Approach, to theorize a spectrum of public-private-partnership for different organizational models of financial regulators, ranging from a firm-type of partnership to a contract type of partnership. Based on this theorized spectrum, together with the comparative institutional approach, this paper identifies four more possible models of public-private-partnership that may help financial regulators streamline their organizational structure to promote the adoption of RegTech. These models include a mixed ownership RegTech corporation, a contracted RegTech supporter, a quasi-public financial regulator, and directly delegated gatekeepers. Policymakers and financial regulators across the globe can consider and choose a model that better suits its own regulatory and supervisory needs.
    Relation: The University of Pennsylvania Journal of Business Law, Vol.21, No.2
    Data Type: article
    Appears in Collections:[Department of Law] Periodical Articles

    Files in This Item:

    File Description SizeFormat
    295.pdf599KbAdobe PDF2224View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback