Fri, Dec 19, 2014 - Page 13 News List

Bankers Association appeals to FSC

By Crystal Hsu  /  Staff reporter

Financial Supervisory Commission Chairman William Tseng attends a meeting of the Finance Committee at the legislature in Taipei yesterday. Tseng said the commission would be responsible for developing the clauses of a draft act governing third-party payment services.

Photo: Wang Meng-lun, Taipei Times

The Bankers Association of the Republic of China (銀行公會) yesterday suggested that the Financial Supervisory Commission (FSC) free it from the duty of drawing up clauses for the draft act governing third-party payment services to avoid criticism over a conflict of interests.

Association chairwoman Lee Jih-chu (李紀珠), who was vice chairwoman of the commission from 2008 to 2010, made the suggestion in a long statement after domestic e-commerce providers questioned the association’s neutrality and the propriety of the group dealing with the issue.


“I sincerely suggest that the commission make Internet firms draw up the drafts to facilitate the legislative process,” Lee said in the statement.

Lee’s statement also came after PChome Online Inc (網路家庭) chairman Jan Hung-tze (詹宏志) criticized the government over slow development of the nation’s third-party payment services and its reluctance to receive feedback from Internet companies regarding the draft act.


The banking industry, the hardest hit by the rise of third-party payment services over the Internet, should not be put in charge of the matter, Jan has said on other occasions.

“The association acted behind closed doors, excluding online enterprises. It acted unilaterally in a secretive manner,” Jan has said.

Lee dismissed Jan’s accusation, saying that there definitely were no “black box” negotiations.

“I believe that both sides, the commission and the Bankers Association, have good intentions,” Lee said earlier this week.

“They hope to implement the laws as soon as possible, so enterprises that need them can begin to use them,” she said.

In the statement, Lee said the association has carried out its duty as instructed by the financial regulator, but it would be appropriate to limit itself to an advisory role and provide help only when needed.

Jan welcomed the gesture, saying that the commission should take heed and allow Internet companies to dominate the drawing up of legislative drafts related to third-party payments.

The commission has overlooked potential legal conflicts and could make amends by passing the duty to Internet firms, Jan said in a statement yesterday.


Jan also offered an apology to Lee.

The controversy led FSC Chairman William Tseng (曾銘宗) to say at the Finance Committee that the commission would be in full charge of drawing up the draft act’s clauses and would invite third-party payment operators to join further discussion.

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