Taiwan cabinet says it has accepted resignation of top financial regulator

Mega Financial Holding Co

03/10/2016 04:32

TAIPEI, Oct 3 (Reuters) - Taiwan's cabinet said it had 
accepted the resignation of Ding Kung-Wha, chairman of the 
island's financial watchdog the Financial Supervisory Commission 
(FSC), and would hold a briefing to explain the move later on 
Monday. 
    Ding's resignation came amid growing criticism in Taiwan of 
the FSC's ability to regulate as state-run financial group Mega 
Financial Holdings  2886.TW  was fined $180 million by New York 
state's financial watchdog for anti-money laundering violations 
that included lax attention to risk exposure in Panama. 
 urn:newsml:reuters.com:*:nL3N1B0416 
    
 
 (Reporting by Faith Hung and Jeanny Kao; Editing by Kenneth 
Maxwell) 
 ((faith.hung@thomsonreuters.com; 8862 2500 4893; Reuters 
Messaging: faith.hung.thomsonreuters.com@thomsonreuters.net)) 
 
Keywords: TAIWAN FINANCIALREGULATOR/URGENT