Taiwan

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.

LINE Bank services crashed on Thursday due to "system overload" just as it launched new digital banking services.

The three fund managers bought shares in Far Eastern Department Store at the request of a former official who has since been charged with corruption.

Next Bank is one of the three internet-only banks that was issued a licence by the FSC in 2019. The bank has yet to launch operations.

Crypto exchanges and trading platforms will have to comply with AML requirements for conventional banks starting 1 July.