Financial Supervisory Commission

The Financial Supervisory Commission is a commission of Ministry of Finance, subordinate to the Executive Yuan of the Republic of China. Its main office is located in Banciao City, Taipei County. [cite web|url=http://www.fscey.gov.tw/mp.asp?mp=5|title=Home|publisher=Financial Supervisory Commission, Executive Yuan, Republic of China|accessdate=2007-07-04|date=2007-06-28] It is charged with regulating securities markets (including the Taiwan Stock Exchange and the Taiwan Futures Exchange), banking, and the insurance sector. It was created on 1 July 2004 in order to unify several previously-separate regulatory authorities which separately supervised differend sectors of the finance industry. [cite web|title=About the FSC: Introduction|url=http://www.fscey.gov.tw/ct.asp?xItem=508412&CtNode=2225&mp=5|date=2005-05-31|accessdate=2007-07-04|publisher=Financial Sueprvisory Commission, Executive Yuan, Republic of China] 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 finalised in 2003 by the Legislative Yuan. [cite conference|url=http://www.cm.hit-u.ac.jp/~jae/papers/hwang.pdf|title=Financial System Reform in Taiwan|booktitle=JAE Conference on Financial System Reform and Monetary Policies in Asia|date=2006-09-15|last=Hwang|first=Dar-Yeh|coauthors=Wu Wei-Hsiung|publisher=The Journal of Asian Economics] 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.cite news|url=http://www.taipeitimes.com/News/biz/archives/2007/01/26/2003346453|date=2007-01-26|accessdate=2007-07-04|title=Hu appointed chairman of FSC|publisher=Taipei Times]

List of commissioners

Present commissioners as of 22 January, 2007: [cite news|url=http://www.fscey.gov.tw/ct.asp?xItem=1833571&CtNode=2316&mp=5|title=About the FSC: Commissioners|date=2007-01-22|accessdate=2007-07-04|publisher=Financial Sueprvisory Commission, Executive Yuan, Republic of China]
* Chairperson Hu Sheng-Cheng
* Vice Chairperson Susan Chang
* Lee Shyan-Yuan
* Rebecca Wu
* Lin Kuo-Chuan
* Bill Chang
* Yang Ya-Hwei

Former chairpersons:
* Kong Jaw-sheng (1 July, 2004 - 12 May, 2006), who was removed from his position on charges of corruptioncite news|url=http://info.gio.gov.tw//ct.asp?xItem=28959&ctNode=919&mp=1|date=2006-05-12|accessdate=2007-07-04|title=行政院將金管會主任委員龔照勝移付懲戒並先行停職 (Executive Yuan FSC Head Kong Jaw-Sheng suspended from duty in advance of punishment)|publisher=Government Information Office, Republic of China]
* Lu Daung-yen (acting chairperson, 12 May, 2006 - 4 August, 2006)
* Shih Jun-ji (4 August, 2006 - 22 January, 2007), resigned due to a run on Rebar Chinese Bank

See also

* List of financial regulatory authorities by country

References

External links

* [http://www.fscey.gov.tw/ Official homepage (Chinese)]
* [http://www.fscey.gov.tw/mp.asp?mp=5 Official homepage (English)]