E-money can refer to monetary value "electronically stored in an instrument or device" - including cash cards, prepaid cards, stored value cards or digital wallets.
March 15, 2022Passing a proficiency test is no longer a prerequisite qualification for personnel with certain work experience, and educational requirements have been scrapped.
February 23, 2022The revised regulations allow financial institutions other than banks, as well as government entities, to provide mobile financial services.
February 18, 2022Financial groups should promote a strong risk culture, put in place appropriate supervision and surveillance, and ensure fairness and transparency in trade execution.
January 28, 2022The FSC is also lowering the threshold that triggers substantial shareholding declarations to promote greater transparency.
January 18, 2022The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.
January 3, 2022The PRA said StanChart's internal controls and governance arrangements underpinning its regulatory reporting were not implemented or operating effectively.
December 24, 2021The FSC found deficiencies in banks' implementation of internal controls to prevent misappropriation of client funds by wealth management specialists.
December 21, 2021The revised rules seek to align the domestic framework with IAIS standards, while also addressing corporate governance and risk management issues.
December 21, 2021The maximum fine for violations by securities investment trust and securities investment consulting businesses will rise from TWD 3mn to TWD 15mn.
December 21, 2021