Taiwan

The central bank will provide TWD 100 billion for loans to SMEs. State-owned banks have set aside a further TWD 550 billion to support business lending.

HK-based Capital Target Ltd was unable to verify the source of funds used to buy a 24% stake in Korean conglomerate Jih Sun Financial Holding in 2009.

Amendments due to take effect from 1 July will enable users of e-payment services and stored-value facilities to transfer money across platforms.

The initiative will enable the TDCC to provide Taiwan issuers with proxy research reports, which will help to enhance transparency for investors.

A special regulation to combat Covid-19 will exempt Taiwan listed companies from requirements to hold shareholders’ meetings by end-June.

The new market allows an integrated listing and trading system to streamline issuance of green, social and sustainability bonds.

The regulator cited failures related to customer due diligence, review mechanisms, transaction monitoring, risk assessment, and investigations.

The FSC will conduct inspections at 10 banks, 6 credit unions, 6 insurers and 3 securities firms to check whether they have sold high-risk products to seniors.

While most Taiwanese lenders have been abiding by risk management rules, others have been less prudent, offering interest rates that are below market averages.

The FSC says LINE Bank’s report explaining its launch day system failure was not satisfactory. The regulator will ask the bank improves its operations.