The Financial Supervisory Commission (FSC; , abbreviated to ) is an independent government agency subordinate to the

Executive Yuan The Executive Yuan () is the executive branch of the government of the Republic of China (Taiwan). Its leader is the Premier, who is appointed by the President of the Republic of China, and requires confirmation by the Legislative Yuan. ...

of the Republic of China (

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas in the northwestern Pacific Ocean, with the People's Republic of China (PRC) to the northwest, Japan to the no ...

). It is responsible for regulating securities markets (including the

Taiwan Stock Exchange The Taiwan Stock Exchange Corporation (TWSE; ) is a financial institution, located in Taipei 101, in Taipei, Taiwan. The TWSE was established in 1961 and began operating as a stock exchange on 9 February 1962. It is regulated by the Financia ...

and the

Taiwan Futures Exchange The Taiwan Futures Exchange (TAIFEX; ) was established in 1998. It offers futures and options on major Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia, at the junction of the East and South China Seas ...

), banking, and the insurance sector. Its main office is located in Banqiao District,

New Taipei New Taipei City is a special municipality located in northern Taiwan. The city is home to an estimated population of 3,974,683 as of 2022, making it the most populous city of Taiwan, and also the second largest special municipality by area, b ...

History

It was created on 1 July 2004 to unify several previously separate regulatory authorities which separately supervised different sectors of the finance industry. Prior to the actual creation of the commission, several alternative structures for regulatory agency reform had been proposed, including a purely non-governmental commission, as well as the establishment of both a governmental regulatory agency and non-governmental supervisory commission; the choice of a purely governmental commission was finalized in 2003 by the

Legislative Yuan The Legislative Yuan is the unicameral legislature of the Republic of China (Taiwan) located in Taipei. The Legislative Yuan is composed of 113 members, who are directly elected for 4-year terms by people of the Taiwan Area through a parallel v ...

. The reasons for the creation of the FSC as an umbrella independent financial regulator was due to: #Financial convergence and cross-market business - market has evolved and became more complex to manage #Single financial regulator - one stop shop for regulating all securities and investments. #Independent Authority at Cabinet Level - experts in their field without political interference #Stronger Law Enforcement - cross referencing cases and building stronger case for misconduct The commission has faced frequent changes in leadership in its short history, due to scandals and crises which began when its first chairperson was removed from his position due to corruption.

Structure

Bureaus

Banking Bureau The Banking Bureau () is a bureau of the Financial Supervisory Commission of Taiwan. Organizational structures * Legal Affairs * Domestic Banks * Credit Cooperatives * Trust and Bills Finance Co. * Foreign Banks * Financial Holdings Co. * IT Of ...

* * * Securities and Futures Bureau

Departments

* Department of Planning * Department of International Affairs * Department of Legal Affairs * Department of Information Management * Other support units

List of chairpersons

Political Party:

Overseas representative offices

* -

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* -

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

Notes

References

External links

* {{Authority control 2004 establishments in Taiwan Executive Yuan Finance in Taiwan

Government agencies established in 2004 Independent government agencies of Taiwan Regulation in Taiwan Banking in Taiwan