21 August 2019

Taiwan to help brokerages become regional players, paper says

Taiwan’s Financial Supervisory Commission (FSC) rolled out five measures Wednesday to help the island’s brokerages to expand their business in Asia, Economic Daily News reported Thursday. The measures include raising the cap on investments, easing the restrictions on funding support for the brokerages’ overseas units, broadening their business scope, enhancing cooperation with foreign regulators and establishing a database to facilitate greater information access, it said. The regulator suggested that financial holding companies should join hands to expand their brokerage business in Asia. The goal is to have one or two Taiwan brokerages become major regional players over the next three to five years, the report said.

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