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Important Measures

The Financial Technology Development and Innovative Experimentation Act and three Act-authorized regulations implemented on April 30, 2018

2018-06-12
Three regulations authorized by the Financial Technology Development and Innovative Experimentation Act (Experimentation Act),namely, Regulations Governing Financial Technology Innovative Experimentation, Regulations Governing the Operations of Financial Technology Innovative Experimentation Review Meetings and Evaluation Meetings and Regulations Governing Fees for Handling Civil Disputes Arising from Financial Technology Innovative Experimentation were implemented on April 30, 2018, the same day as the Experimentation Act. In order to allow related businesses to understand the rationale and details of the regulations, the FSC has compiled a Q&A of the Experimentation Act and related regulations to facilitate compliance by related businesses or applicants.
The FSC has also posted fintech innovative experimentation-related application forms in the “Download Application Forms (only in Chinese version)” in the Convenient Public Service Area of its website to allow applicants to download and use the forms themselves. To assist applicants in preparing for applications and provide them with consultation on related regulations, the FSC has established the Financial Technology Development and Innovation Center. It is suggested that  parties interested in applying to conduct an innovative experiment should first enquire at the Center as to whether an application is actually necessary and consult with the Center regarding application preparation before officially submit applications, to enhance the efficiency of application review. The Center’s contact numbers and email address are: (02)8968-0086, (02)8968-0081, (02)8968-0240 and (02)8968-0707; email:fintechcenter@fsc.gov.tw 
To expand the scope of service, the FSC and the MOEA have jointly introduced a “front store, back factory” mechanism to provide consulting and guidance services to fintech innovators. If a startup has an innovative fintech idea, but still in an immature stage, the guidance is thus required. He or she can seek assistance of clarifying the doubts about related regulations from the MOEA Innovation Regulation Sandbox Platform (https://www.sandbox.org.tw); after guidance is received from the platform and business models are well planned, the FSC will take the following steps to provide them with fintech innovative experimentation pre-application guidance.
 
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  • Update: 2018-06-12
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