Eleven overseas firms offering securities investment trust funds in Taiwan will need to set up a local risk management department by end-2022.
The FSC says standardising the breach reporting time at 72 hours will improve the efficiency of managing fraud and data theft.
Greater flexibility is provided for securities investment trust funds to invest in IPO stocks, CoCo bonds and TLAC bonds.
Under two separate initiatives, eight foreign fund managers and four investment trust companies will receive preferential treatment for one year.
The rules say the collection of credit information should “not be excessive" and subject to consent and information security requirements. Cross-border use is allowed.