Taiwan taskforce to supervise probe into Mega Financial's New York branch -premier

Mega Financial Holding Co

30/08/2016 09:27

TAIPEI, Aug 30 (Reuters) - Taiwan's premier said on Tuesday 
the government has formed an emergency taskforce to supervise 
its investigation into Mega Financial's  2886.TW  New York 
operations following the bank's fine by U.S. regulators. 
    "There have been so many questions and concerns raised by 
people," premier Lin Chuan told an unscheduled briefing. "We 
will discuss these questions and concerns and hand them over to 
the Financial Supervisory Commission (FSC) and the Ministry of 
Justice to clarify as soon as possible," he said.     
    The FSC said last week it will send inspectors to Mega 
Financial's banking branches in New York and Panama as part of 
its probe into the state-run bank.  urn:newsml:reuters.com:*:nL3N1BA2IA 
    The New York branch of Mega Financial has agreed to pay $180 
million to New York state's financial regulator for anti-money 
laundering violations that included lax attention to risk 
exposure in Panama.  urn:newsml:reuters.com:*:nL3N1B0416 
 
     
 
 (Reporting by Faith Hung; Editing by Sam Holmes) 
 ((faith.hung@thomsonreuters.com; 8862 2500 4893; Reuters 
Messaging: faith.hung.thomsonreuters.com@thomsonreuters.net)) 
 
Keywords: TAIWAN MEGAFINANCIAL/PROBE