Thu, Jan 01, 2009 - Page 12 News List

FSC announces reshuffle of personnel

By Crystal Hsu  /  STAFF REPORTER

The Financial Supervisory Commission (FSC) yesterday announced a personnel reshuffle, promoting Banking Bureau Secretary-General Hsiao Chang-jui (蕭長瑞) to deputy director-general of the bureau, among other appointments.

Hsiao’s vacancy will be filled by Chiu Shu-cheng (邱淑貞), who works for the bureau’s accounting division.

The commission also named Securities and Futures Bureau Secretary-General Wang Yung-hsin (王詠心) deputy head of the bureau. Wang’s vacancy will be filled by Wu Quei-mao (吳桂茂).

Wu Tsung-chuan (吳崇權), the secretary-general of the Insurance Bureau, was promoted to deputy director-general and his vacancy will be filled by Chen Kai-yuan (陳開元).

In addition, the commission yesterday imposed a NT$2 million (US$61,000) fine on First Commercial Bank (第一銀行) for negligence after four bank employees were found to have embezzled a total of NT$1.4 million.

The commission also revoked the licenses of three domestic investment consultancy firms that had violated the law either by suspending their operation without notice or by moving their offices.

The FSC also said it would end its ban on the short-selling of 150 domestic stocks, including stocks in the Taiwan 50 Index and Taiwan mid-cap 100 Index, on Monday as scheduled.

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