Important Measures
FSC coordinates with amendment to Article 2 of "Regulations Governing Public Disclosure by the Financial Supervisory Commission of Material Enforcement Actions for Violations of Financial Legislation" by revising an interpretive rule regarding Article 146-1, Paragraph 1, Subparagraph 6 of the "Insurance Act" and also amends Article 22 of "Regulatio
2022-07-14
To coordinate with an amendment to Article 2 of "Regulations Governing Public Disclosure by the Financial Supervisory Commission of Material Enforcement Actions for Violations of Financial Legislation," and for the sake of consistency in financial supervision, the FSC recently revised Point 3, Subparagraph 3 of the interpretive rule regarding Article 146-1, Paragraph 1, Subparagraph 6 of the "Insurance Act" to: (a) require that, for an insurer to be eligible to invest in futures trust fund beneficiary certificate, it must have never been subject to a material sanction or penalty for any illegal use of funds; and (b) change the amount of administrative fines to NT$3 million.
In addition, the FSC amended the definitions of material sanctions and penalties in Article 22 of the "Regulations for Establishment, Transfer, or Withdraw Branch Units by Insurance Enterprises" and 12 other related regulations to bring them in line with Article 2 of the "Regulations Governing Public Disclosure by the Financial Supervisory Commission of Material Enforcement Actions for Violations of Financial Legislation."
In addition, the FSC amended the definitions of material sanctions and penalties in Article 22 of the "Regulations for Establishment, Transfer, or Withdraw Branch Units by Insurance Enterprises" and 12 other related regulations to bring them in line with Article 2 of the "Regulations Governing Public Disclosure by the Financial Supervisory Commission of Material Enforcement Actions for Violations of Financial Legislation."
- Visitor： 482
- Update： 2022-07-14
