Koo vows ‘differentiated’ style

TOP OF THE AGENDA:The FSC chairman-designate said his first task in his new job would be to familiarize himself with the tasks of all the agencies under the commission

Taipei Times
Date: Sep 07, 2017
By: Sean Lin / Staff reporter

Financial Supervisory Commission (FSC) chairman-designate Wellington Koo (顧立雄)

Ill-gotten Party Assets Settlement Committee Chairman Wellington Koo speaks at a news conference in Taipei yesterday, commenting on his new post as chairman of the Financial Supervisory Commission. Photo: Lin Cheng-kung, Taipei Times

yesterday addressed doubts over his abilities to prevail in his new post, while vowing to implement a “differentiated management style” and to seek to achieve a balance between encouraging innovation in the financial sector and regulating it.

Koo yesterday fielded reporters’ queries at the offices of the Ill-gotten Party Assets Settlement Committee in Taipei, which he has headed since September last year.

Asked how he would balance regulating the financial sector and encouraging innovation, Koo said he would consult his new colleagues over the implementation of a “differentiated management style” at financial institutions within the legal parameters of the financial innovations and experiments bill, which is being reviewed by the legislature.

Any person appointed FSC chairman in the digital age must consider how to balance innovation and regulation, but also contemplate whether to segregate industry and the financial sector, and prevent firms from being controlled by a handful of families, Koo said.    [FULL  STORY]

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