Taiwan

Taiwan Depository Clearing Corp is will establish and operate a centralised domestic fund clearing platform.

KGI Bank was fined after one employee misappropriated customer funds and another improperly executed customer transactions.

Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.

Based on an average pre-tax return requirement, a total of 12 banks and 20 credit cooperatives are eligible to apply to open a new branch office in 2022.

The move is aimed at standardising the key principles banks follow when handling large-scale project financing cases involving environmental and social risks.

A probe into foreign brokerage firms was launched last month after they sold shares in TSMC while also issuing “buy” recommendations in research reports.

The bank was fined, temporarily barred from setting up new ATMs, and required to increase its operational risk capital by 30 June.

FIs have been selling unsuitable products to elderly customers without conducting a proper risk assessment and sometimes categorising them as professional investors.

The FSC will encourage FIs to use their capital, investment and financing decision-making power to guide enterprises towards sustainable development.

Bitcoin ATMs in Taiwan are being used to scam victims who attempt to transfer cash to specific accounts to purchase cryptoassets.