The Financial Supervisory Commission (FSC) leaves much to be desired in demonstrating efficiency and consistency when carrying out its duties, participants at a seminar on financial reform said yesterday.
Chinese Nationalist Party (KMT) Legislator Chiu Yi (邱毅), who is known for exposing financial scandals, said the nation suffers from overbanking and the financial sector must go through consolidation in order to remain competitive.
Chiu said the crowded field made avoiding conflict of interests difficult for the financial regulator, as some top FSC officials previously worked in the banking sector.
“The close ties causes them to hesitate when they are called upon to investigate irregular activities,” Chiu said, citing former FSC chief Gordon Chen (陳樹) as an example. Chen served as an independent supervisor at Taishin Securities Co (台証證), a subsidiary of Taishin Financial Holding Co (台新金控), before being appointed to head the FSC.
Chiu said Chen refused to address reported flaws related to Taishin Financial and had to step down late last year.
Chiu said FSC chair Sean Chen (陳冲) had displayed reluctance in dealing with takeover disputes between China Development Financial Holding Co (中華開發金控) and Taiwan International Securities Corp (金鼎證券) because of his ties to the former.
Hwang Dar-yeh (黃達業), a finance professor at National Taiwan University, echoed the concerns.
Huang said the legislature should enact laws barring banking officials from assuming government positions.
“It will be hard for people to regulate their former employers,” Huang said. “There should be laws to address the issue.”
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
Artificial intelligence (AI) agents would supplant smartphones as the center of people’s digital lives, fundamentally reshaping personal devices and driving a major computing upgrade cycle, Qualcomm Inc CEO Cristiano Amon said yesterday. In his keynote speech for this year’s Computex trade show in Taipei, Amon said that the rise of "agentic AI" — AI systems capable of reasoning, planning and carrying out tasks autonomously — would transform how people interact with technology across phones, PCs, vehicles and wearable devices. Describing the technology as the next major evolution in computing, Amon said that "2026 is the year of agents.” For decades, smartphones have sat
RSS