FSC mulls rule changes to promote fintech training – Taipei Times

In Taiwan, the Financial Supervisory Commission (FSC) in 2015 established a Fintech Office to plan and promote fintech development. Since taking office in May 2016, the Tsai Ing-wen administration has announced additional programs and committed significant resources aimed at making Taiwan a fintech hub.

CFPB’s regulatory sandbox isn’t just about helping fintechs. The bureau wants to encourage more innovation without the threat of enforcement, but observers say regulators also need a testing ground to prove they can regulate fintech.

Andrew Bailey, Chief Executive of the UK Financial Conduct Authority (FCA), addressed the regulator’s business plan for the coming year in a speech this week. Touching upon innovations in.

etc. will help support China’s Fintech business, and stimulate other Fintech related business models to boom in China. In terms of truly innovative and revolutionary technology, however, China is still behind the US. In 2017, four Chinese Fintech companies (all in online lending business) got listed in NYSE and one listed in Nasdaq. In

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OCC Addresses Bank Collaboration, Fintech in Vendor Risk FAQs on June 7, 2017 Community Banking , Compliance , Newsbytes , Technology Responding to several questions flagged by the American Bankers Association, the OCC today issued a set of frequently asked questions to help bankers implement the agency’s 2013 guidance on managing risk.

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The FSC may grant one extension for no more than six months (Section 9 of the Bill). 2. FSC’s Supervision and Support During the sandbox period, the FSC may request an explanation from the sandbox entity on the experimentation. The FSC may also conduct on-site visit, and the sandbox entity shall not reject to it.

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Fintech Regulatory Sandbox 3. Extending or exiting Sandbox At end of Sandbox period, rules are restored and must exit Sandbox May apply for extension with reasons Upon exit applicant can proceed to deploy if able to comply with relevant rules Sandbox may be discontinued in certain situations 6

Apart from the co-operation agreement signed with the IA, the FCA had concluded similar agreements with the Hong Kong Monetary Authority and the Securities and Futures Commission, to provide a full spectrum of co-operation and assistance in Fintech innovation in the banking, securities and insurance sectors in both the UK and Hong Kong markets.