The Financial Supervisory Commission (FSC; , abbreviated to ) is an independent government agency subordinate to the Executive Yuan of the Republic of China (Taiwan). It is responsible for regulating securities markets (including the Taiwan Stock Exchange and the Taiwan Futures Exchange), banking, and the insurance sector.
Its main office is located in Banqiao District, New Taipei.
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 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
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:
№NameTerm of Office DaysPolitical PartyPremier 1 Kong Jaw-sheng (龔照勝) 1 July 2004 12 May 2006 Yu Shyi-kunFrank HsiehSu Tseng-chang I — Lu Daung-yen (呂東英) 12 May 2006 4 August 2006 Su Tseng-chang I 2 Shih Jun-ji (施俊吉) 4 August 2006 12 January 2007 Independent Su Tseng-chang I — Susan Chang (張秀蓮) 12 January 2007 25 January 2007 Su Tseng-chang I 3 Hu Sheng-cheng (胡勝正) 25 January 2007 1 July 2008 Democratic Progressive Party Su Tseng-chang IChang Chun-hsiung IILiu Chao-shiuan 4 Gordon Chen (陳樹) 1 July 2008 1 December 2008 Kuomintang Liu Chao-shiuan 5 Sean Chen (陳冲) 1 December 2008 17 May 2010 Kuomintang Liu Chao-shiuanWu Den-yih 6 Chen Yuh-chang (陳裕璋) 17 May 2010 29 July 2013 Kuomintang Wu Den-yihSean ChenJiang Yi-huah 7 Tseng Ming-chung (曾銘宗) 29 July 2013 31 January 2016 Kuomintang Jiang Yi-huahMao Chi-kuo 8 Wang Li-ling (王儷玲) 1 February 2016 20 May 2016 Chang San-cheng 9 Ding Kung-wha (丁克華) 20 May 2016 3 October 2016 Lin Chuan — Huang Tien-mu (黃天牧) 3 October 2016 19 October 2016 Lin Chuan 10 Lee Ruey-tsang (李瑞倉) 19 October 2016 8 September 2017 Lin Chuan 11 Wellington Koo (顧立雄) 8 September 2017 20 May 2020 Democratic Progressive Party William LaiSu Tseng-chang II 12 Huang Tien-mu (黃天牧) 20 May 2020 20 May 2024 Su Tseng-chang IIChen Chien-jen 13 Peng Jin-lung (彭金隆) 20 May 2024 Incumbent Cho Jung-tai
Overseas representative offices - London - New York City
See also Economy of Taiwan Regulatory agency Securities Commission Statutory authority List of financial supervisory authorities by country
Notes
References
External links