The Financial Supervisory Commission (FSC) yesterday approved changes to trust fund regulations, easing the cap on trust fund risk exposure and allowing insurers to operate trust services.
The amendments raises the ceiling on risk exposure for trust funds from 15 percent to 40 percent of the funds' net assets, and allows local trust funds to commission foreign futures companies to trade foreign futures products.
Local trust companies are also permitted to trade overseas futures or options based on the Taiwan stock index or a basket of local securities.
The newly approved deregulatory measures are in line with the undertaking for collective investment in transferable securities III standards of the EU and will enhance the competitiveness of trust firms, FSC Vice Chairman Susan Chang (張秀蓮) told a media briefing yesterday.
The commission also approved a new directive allowing insurance companies to operate trust services for insurance policies.
Chang said the new measure aims to protect beneficiaries who have not reached legal age or who do not have the capability to protect their compensation from being abused by their guardians.
Seperately, Fitch Ratings (
The ratings agency said that mortgage loans, consumer loans and small and medium enterprise loans are likely to become the deals of choice for local lenders, rather than real estate investment trusts (REITs) and real estate asset trusts.
Fitch analyst Helen Wong said soaring commercial property prices were making direct sales of assets more attractive than indirect sales, such as REITs, in terms of profits.
Wendy Hsueh (
She said investors were attracted to the huge potential given the relatively low rents and prices compared to other Asian cities, with prices likely to increase if cross-strait relations improve.
TV and online retailer Momo.com Inc (富邦媒體) yesterday said it has set up a new logistics subsidiary, Fu Sheng Logistics Co (富昇物流), to oversee the company’s extensive shipping operations. Leveraging Momo’s 23 satellite warehouses and distribution centers nationwide, Fu Sheng will be in charge of executing the retailer’s same-day shipment plan for deliveries in Taipei, New Taipei City, Taoyuan, Taichung, Tainan and Kaohsiung, Momo said in a press release. Seeking to further shorten its supply chain, the company is to set up another seven satellite warehouses and distribution centers by the end of the year. “Fu Sheng has a fleet of 200 couriers
‘ACCORDING TO PLAN’: A company official said that it has set up production sites worldwide to provide services and that its Wisconsin project was going smoothly Hon Hai Precision Industry Co’s (鴻海精密) smart manufacturing center in Wisconsin would begin trial manufacturing in the middle of this year, the company said yesterday, adding that it plans to build a research institute to develop key technologies to support growth over the next five years. Hon Hai, known internationally as Foxconn Technology Group (富士康科技集團), said in an annual report submitted to the Taiwan Stock Exchange that its planned Foxconn Institute for Research in Science and Technology would conduct research into artificial intelligence, next-generation communications, quantum computing, cybersecurity and nano semiconductors in Taiwan. Hon Hai is to make products at the center
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