Financial officials who have not actively sought to fulfill their duties when overseeing banking, capital investment and corporate operations should be subject to strict criminal penalties to discourage financial crimes, a prosecutor said on Saturday.
Hsu Yung-chin (
Hsu, the country's first prosecutor to be assigned to the Financial Supervisory Commission (FSC), said that during his stint there, he saw many financial officials who only passively policed share sales and corporate accounting.
Hsu, who has investigated high-profile financial scandals such as the Taiwan Development Corp insider trading case involving President Chen Shui-bian's (
However, such criminal activities might also indicate weaknesses in legal, economic, social and political mechanisms, Hsu said.
Corporate financial scandals may also in a sense be caused by negligence on the part of internal monitors, he said, adding that accounting and administrative supervisors should rethink their work methods and ask whether they fulfill their duties.
If supervisory units fail to actively cooperate with prosecutors, Hsu said, that in itself should be probed.
With that in mind, Hsu said, financial supervisors who have been lax or passive in carrying out their watchdog duties should be prosecuted and given harsh prison sentences to send a clear signal that corporate crime will be prosecuted.
Eight restaurants in Taiwan yesterday secured a one-star rating from the Michelin Guide Taiwan for the first time, while three one-star restaurants from last year’s edition were promoted to two stars. Forty-three restaurants were awarded one star this year, including 34 in Taipei, five in Taichung and four in Kaohsiung. Hosu (好嶼), Chuan Ya (川雅), Sushi Kajin (鮨嘉仁), aMaze (心宴), La Vie by Thomas Buhner, Yuan Yi (元一) and Frassi in Taipei and Front House (方蒔) in Kaohsiung received a one-star rating for the first time. Hosu is known for innovative Taiwanese dishes, while Chuan Ya serves Sichuan cuisine and aMaze specializes
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