The Financial Supervisory Commission (FSC) yesterday announced plans to simplify the review process for several financial products and relax some other measures, as the regulator aims to stimulate momentum on the local bourse.
Following suggestions by domestic financial institutions, the commission has evaluated regulations and found 13 financial products that could be reviewed by an easier procedure, with 19 measures applicable for deregulation.
In addition, regarding the commission’s plan to extend the policy on day trading -- whether buying first and selling later or selling first and then buying later on the same day, the commission said it would extend the program to as many as 407 stocks and 26 exchange-traded funds (ETFs) on June 1.
Securities and Futures Bureau Deputy Director-General Wang Yung-hsin (王詠心) said this measure could help raise turnover on Taiwan’s stock market and make the nation’s financial regulations to conform more closely with international standards.
The commission also plans to simplify the review procedure for new financial derivatives products connected to the nation’s equity market — which might take effect in August — which would be a significant measure to facilitate capital flows to the stock market.
The commission is also set to allow investors to use the beneficial right of trust as collateral, including fund products, for buying stocks.
The Bankers Association (銀行公會) said its members would discuss further details with the commission before the measures take effect in December.
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