曾宛如2006-07-252018-07-052006-07-252018-07-052000http://ntur.lib.ntu.edu.tw//handle/246246/12793英國金融市場從自律規範逐步改弦更 張之際，英國政府所頒布之金融服務法 (the Financial Services Act 1986) 所提之投 資(investment)概念雖相似於美國法上之有價證券(securities)，但論其實質仍有些 許不同，不過其基本之理念仍緊扣著對一 般投資者於資訊不對稱下之弱勢地位的保 護則屬一致。至於所稱之投資事業 (investment business)，亦為英國法所專有用 語，其所指內涵不限於有價證券的買賣、 發行等行為。就該法對投資與投資事業的 內涵已有詳實的界定，主要規定於第一、 三條與schedule 1 之中，縱其尚有待解釋之 處，法院也於歷年之裁判中補充說明，有 助於該法規規範對象界定上的完足。雖英 國國會欲以新通過之金融服務與市場法 (the Financial Services and Market Act)替 代金融服務法，但其間差異並未太大，對 於現納入管制體制之原屬英格蘭銀行之管轄業務的部分，本研究亦一併探討。於末，對於英國法上的投資與投資事 業的探知與討論之後，回觀我國證券交易 法與實務的解釋，不難發現法規的自我限 縮已與現實經濟實況脫離，就此應針對證交法作一修正，以期規範目的的實踐。The philosophy of regulation in relation to the English financial market has been shifted from self-regulation towards the more centralized style. Although the definition of investments in the Financial Services Act 1986 is similar to that of securities in American securities legislation, there is still some difference in the sense of substance between the two legal frameworks. Even so, both are to protect investors who are deprived of certain information due to information asymmetry. The term “investment business” is invented by English legislation and needs further judicial explanation to delineate exactly what activities it intends to regulate. Sections 1 and 3 and schedule 1 define the kinds of investment and illustrate the general outlook of investment business. All these discussions could be of great help in reviewing our own system. The definition of securities in our Securities and Exchange Act is out of date and unable to cover the newly developed financial derivative products. Therefore, the result of the research on English and American law can provide certain models for rebuilding our regulated objects.application/pdf35961 bytesapplication/pdfzh-TW國立臺灣大學法律學系暨研究所金融服務法(1986)金融服務與市場法(2000)金融服務局有價證券投資投資事業證券法(1933)the Financial Services Act 1986the Financial Services and Market Act 2000the Financial Services Authoritysecuritiesinvestmentinvestment businessthe Securities Act of 1933reporthttp://ntur.lib.ntu.edu.tw/bitstream/246246/12793/1/892414H002015.pdf