TAIFEX will also replace its older trading system equipment by Q4 2022 to improve trading efficiency, market capacity and service delivery.
Taiwan’s FSC has fined seven financial institutions for regulatory violations including the improper payment of commissions.
Greater flexibility is provided for investments in IPO stocks, low-unrated and rated and unrated bonds, and CoCo and TLAC bonds.
Securities and futures companies have to disclose more information on cyber incidents. Listed companies have to strengthen cybersecurity management.
The amendments will enhance disclosures on environmental and social issues, board diversity and independence, and information security policies and risks.
CTBC Bank was fined TWD 14 million, Bank SinoPac was fined TWD 4 million, and Bank of Panhsin was fined TWD 2 million.
The 7 core focus areas include consumer protection, real estate credit, information security, conflicts of interest, and green finance.
Data may be shared between FIs, subject to consent, if it can enhance customer convenience, improve operations, or facilitate cooperative business arrangements or partnerships.
The central bank has further tightened real estate credit controls. The FSC will conduct inspections on 20 financial institutions to ensure they are complying.
Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022.
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