The China Post
Date: October 4, 2016
By: Christine Chou
TAIPEI, Taiwan — Financial Supervisory Commission (FSC, 金管會) Chairman Ding Kung-wha (丁克華)
tendered his resignation Monday morning, as the financial regulator continues to face criticism over its handling of a recent money-laundering scandal involving one of Taiwan’s biggest banks.
Ding, formerly appointed by Premier Lin Chuan (林全), has served as head of the FSC for nearly four months.
According to Cabinet spokesman Hsu Kuo-yung (徐國勇), the premier has approved Ding’s resignation and the FSC Vice Chairman Kuei Hsien-nung (桂先農) has also resigned.
Ding will be temporarily replaced by Huang Tien-mu (黃天牧), another FSC vice chairman, Hsu said at a news conference.
In a statement issued earlier Monday, Ding announced he would step down to assume responsibility for money laundering allegations involving Mega Financial Holding Co. (兆豐金控).
Ding said he and the commission launched investigations immediately after receiving news about the Mega Bank scandal and that they had set up a special task force. [FULL STORY]