Taiwan’s Financial Supervisory Commission will require existing funds to disclose all commission fees they award to bank distributors from March 2. The move aims to improve the transparency of distribution because offshore fund managers have been paying higher commission to banks than onshore managers.
The FSC is also planning to co-ordinate with overseas regulators as part of its process to authorise new offshore funds in Taiwan, says Rosemary Wang, deputy director general of the FSC’s Securities and Futures Bureau.
Both moves are designed to help onshore fund management companies compete in a more even playing field.
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