Taiwan FSC censured and demoted 54 managers at seven state banks for their involvement in a $679mn syndicated loan-fraud scandal.
FSC may authorise Japan’s Line Corp and Rakuten to operate as full-service banks in Taiwan.
New central bank governor suggests artificial intelligence, big data and blockchain technology will revolutionise Taiwan’s financial landscape.
Brokers with capital adequacy exceeding 250 percent and net value over NTD10 billion will be allowed to issue the new debt instruments.
Bank reported financial adviser to regulator and dismissed them after uncovering misconduct involving more than $3mn.
Head of Financial Supervisory Commission says to produce feasibility study this year; visit South Korea and Japan to investigate internet-only banking concept.
US Federal Reserve Board cites deficiencies in Mega Bank's operations, risk management and compliance controls in relation to AML and bank secrecy laws.
Tech firms will need to pass an assessment for FSC approval to use the sandbox and gain exemptions from certain regulations.
Exchange says move will boost trading speeds, bring Taiwan up to speed with international standards and regulations.
Order issued after reports that hackers breached bank's online transaction system and stole $60mn which was distributed via SWIFT.