Standard Chartered Bank has been approved to launch its 14th high-asset business and is about to be
Published By Desantos Rocky | Jan 07, 2025 11:16 a.m.
Note Descr: The Financial Supervisory Commission is striving to build Taiwan into an Asia-Pacific asset management center. The high-asset client business that was originally strictly scrutinized has recently been encouraged to apply for banks and accelerated approval. The Financial Supervisory Commission announced today (7th) that......
The Financial Supervisory Commission is striving to build Taiwan into an Asia-Pacific asset management center. The high-asset client business that was originally strictly scrutinized has recently been encouraged to apply for banks and accelerated approval. The Financial Supervisory Commission announced today (7th) that it has approved Standard Chartered International Commercial Bank to handle high-asset business, becoming the 13th bank approved to open. through
Lin Zhiji, deputy director of the Banking Bureau of the Financial Supervisory Commission, announced the above news at a regular press conference today. He also said that there is another private bank that is applying. Lin Zhiji did not specify which bank it is, but it is understood that the submitter is Taishin International Commercial Bank.
It is understood that Taishin Bank submitted an application to the Banking Bureau of the Financial Supervisory Commission to open high-asset business during the period of Huang Tianmu, chairman of the Financial Supervisory Commission, that is, in the first half of last year (2024), but was rejected by the Banking Bureau. However, after May 20 last year, the Financial Supervisory Commission changed its chairmanship, and the supervision standards and supervision atmosphere changed significantly. Taishin Bank seized the opportunity and resubmitted the document in the fourth quarter of last year.
Bankers believe that the current chairman of the Financial Supervisory Commission, Peng Jinlong, is eager to create an open atmosphere, and Taishin Bank is expected to be approved to open. It is estimated that good news will be heard in the first quarter of this year.
The Financial Supervisory Commission’s press release mentioned that the approval of Standard Chartered Bank’s handling of high-asset client business was mainly due to the bank’s plan to increase investment in product development, process transformation, talent recruitment and hardware equipment, introduce foreign financial product development capabilities, and Use the wealth management information system to improve the handling of this business, and cooperate with well-known foreign institutions to train talents and other matters.
The parent bank of Standard Chartered Bank, a large international bank, agrees that the bank handles wealth management business for high-asset customers, which is conducive to introducing international wealth management experience into my country.
The Financial Supervisory Commission also stated that on January 6 this year, it has announced a draft amendment to some provisions of the "Administrative Measures for Financial Products and Services Applicable to Banks Handling High-Asset Customers", and plans to fully open banks to handle high-asset businesses and adopt a phased approach to business projects. Relax.
Lin Zhiji said that the notice period will be 14 working days. If there are not many opinions from all walks of life, relevant amendments will be released.
Wind Media welcomes all walks of life to share their opinions. Please send your submissions to
opinion@storm.mg