TECH HOLDINGS:The changes will allow financial institutions to own up to 100% of an information-technology company. Current rules limit the shareholding to 5 percent

Taipei Times
Date: Jun 12, 2015
By: Amy Su  /  Staff reporter

The Financial Supervisory Commission (FSC) is planning to ease regulations to allow local financial institutions to invest up to 100 percent in information-technology companies, FSC Chairman William Tseng (曾銘宗) said yesterday.

Current regulations allow financial institutions — including banks, insurers and brokerage houses — to invest only up to 5 percent in a non-financial company, in line with the principle of separation of banking and commerce.

However, to keep pace with changes in global market trends, the commission plans to revise the regulations by the end of this year to allow financial institutions to invest more in the IT industry to maintain the financial industry’s competitiveness, Tseng said.     [FULL  STORY]