Taiwan

Securities firms will be allowed to design more diversified trust products, enabling them to better meet customers' financial planning needs, the FSC said.

The former chief investment officer used "another person's account" to trade the same stock that was being traded by Eastspring.

China has banned imports of citrus fruit, two types of fish, and food items from 107 Taiwanese brands. Exports of natural sand to Taiwan are banned.

China Development Financial Holding Corp was fined TWD 20mn. Its subsidiaries China Life and KGI Securities were fined TWD 6mn and TWD 2.4mn respectively.

The rules are aimed at preventing directors from taking on positions at other firms that could affect their performance or create conflicts of interest.

The illegal behavior lasted nearly 10 years, affecting nine customers, five of which were seniors. The total amount involved was about TWD 84.5 million.

Under new rules, bank customers will have the option to direct their bank to dispose of foreign securities obtained through the conversion of structured products.

Credit card companies that process payments for transactions involving virtual assets will have three months to stop.

Central clearing makes OTC derivatives trading safer, more efficient, and more competitive for participants, FSC chair Huang Tien-mu said at the launch ceremony.

The MOU provides a framework for collaboration and information exchange in fintech innovation, capital markets and investment.