The government plans to issue new executive orders requiring certain financial industry professionals, such as credit analysts, to undergo examinations and to obtain licenses, Minister of Finance Lee Yung-san (李庸三) said yesterday.
Lee said that several local banks have already carried out such a policy and he hopes all other domestic banks will follow suit.
The move will help establish a comprehensive professional licensing system for the financial sector, which already requires its securities, trust, monetary, futures and insurance professionals to undergo examinations and licensing, Lee said.
A lengthy grace period will be provided for the banks to adopt the new measure, which is currently being discussed and formulated at the ministry, he said.
Speaking on the challenges and opportunities in the financial sector at a seminar on the management and development of financial holding companies, Lee said the ministry wants to liberalize the operational aspects of the industry while encouraging innovation.
Lee said the ministry will also work to strengthen financial and risk management measures.
RSS