Banks to offer more to high-worth clients: FSC - News Summed Up

Banks to offer more to high-worth clients: FSC


By Kao Shih-ching / Staff reporterThe Financial Supervisory Commission (FSC) on Thursday said it is launching new wealth management rules that would allow eligible banks to offer their high-asset customers new financial products and services next quarter. The new rules, part of the Regulations Governing Banks Conducting Financial Products and Services for High-Asset Customers (銀行辦理高資產客戶適用之金融商品及服務管理辦法), would take effect after a 60-day notice, FSC Chairman Wellington Koo (顧立雄) said. Meanwhile, 60 days should be enough for the banks to prepare to kick-start new services,” Koo said. BIGGER RISKAs the new financial products generate higher investment risks, only banks with solid financials, large-scale management services and good corporate governance would qualify, Koo added. After the 60-day notice, the FSC would announce the list of eligible banks, he said.


Source: Taipei Times February 21, 2020 15:56 UTC



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