The Financial Supervisory Commission (FSC; , abbreviated to ) is an independent government agency subordinate to the

Executive Yuan The Executive Yuan () is the executive (government), executive branch of the government of the Republic of China (Taiwan). Under the Additional Articles of the Constitution of the Republic of China, amended constitution, the head of the Execut ...

of the Republic of China (

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia. The main geography of Taiwan, island of Taiwan, also known as ''Formosa'', lies between the East China Sea, East and South China Seas in the northwestern Pacific Ocea ...

). It is responsible for regulating securities markets (including the Taiwan Stock Exchange and the Taiwan Futures Exchange), banking, and the insurance sector. Its main office is located in

Banqiao District Banqiao District () Banciao, Panchiao or Pan-ch'iao is a District (Taiwan), district and the seat of New Taipei City, Taiwan. It has the third-highest population density in Taiwan, with over . Until the creation of New Taipei City, Banqiao was a ...

New Taipei New Taipei City is a Special municipality (Taiwan), special municipality located in regions of Taiwan, northern Taiwan. The city is home to an estimated population of 4,004,367 as of January 2023, making it the most populous city in Taiwan, a ...

History

It was created on 1 July 2004 to unify several previously separate regulatory authorities which separately supervised different sectors of the finance industry. 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 finalized in 2003 by the

Legislative Yuan The Legislative Yuan () is the unicameral legislature of the Republic of China (Taiwan) located in Taipei. The Legislative Yuan is composed of 113 members, who are directly elected for four-year terms by people of the Taiwan Area through a ...

. The reasons for the creation of the FSC as an umbrella independent financial regulator was due to: #Financial convergence and cross-market business - market has evolved and became more complex to manage #Single financial regulator - one stop shop for regulating all securities and investments. #Independent Authority at Cabinet Level - experts in their field without political interference #Stronger Law Enforcement - cross referencing cases and building stronger case for misconduct 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.

Structure

Bureaus

* Banking Bureau * * * Securities and Futures Bureau

Departments

* Department of Planning * Department of International Affairs * Department of Legal Affairs * Department of Information Management * Other support units

List of chairpersons

Political Party:

Overseas representative offices

* -

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

* -

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

Notes

References

External links

* {{Authority control 2004 establishments in Taiwan Executive Yuan Finance in Taiwan

Government agencies established in 2004 Regulation in Taiwan Banking in Taiwan