trending Market Intelligence /marketintelligence/en/news-insights/trending/oenjptj4f9rdcfhgscbwtg2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Taiwan to probe finance minister, ex-FSC officials on Mega Financial oversight

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next

Corporate Renewables Market Looks To Continue Growth After Record 2018

Reframing The Conversation Around Cyber Risk


Taiwan to probe finance minister, ex-FSC officials on Mega Financial oversight

Taiwan's current finance minister, his predecessor and fourformer officials of the Financial Supervisory Commission face a probe inconnection with the scandal involving the violation of anti-money launderinglaws by Mega InternationalCommercial Bank Co. Ltd.'s New York branch, Reuters reported Oct.4, citing a cabinet statement.

New York authorities in August the banking arm of US$180 million for the violations. In September, Taiwan's FSC a fine on the bank anddirected it to remove some of its executives for poor management of itsoverseas branches.

Control Yuan, an investigatory agency, will probe theofficials to find out whether they should be held responsible for the ruleviolations at the Taiwanese bank's New York branch. The agency will determinewhether "insufficient oversight" led to the fine by U.S. regulators,according to Reuters.

The officials are Finance Minister Sheu Yu-jer, formerFinance Minister Chang Sheng-ford, William Tseng and Chen Yu-chang, formerchiefs of the FSC, and ex-vice chairperson, Jennifer Wang. Ding Kung-Wha, whorecently stepped downas chairman of the FSC, will also be investigated.