Amendments of the Regulations Governing Transactions Other Than Loans between Insurance Enterprises and Interested Parties
2017-06-30
In order to achieve consistency of supervisory measures for financial institution financial performance, the FSC amended Article 3, Article 4, and Article 6 of the Regulations on June 30, 2017. The key points of amendments are as follows:
1. When an insurance company purchases financial derivative or structured product linked to securities issued by interested parties from a non-interested party, such a transaction is considered a non-loan transaction between the insurance company and its interested parties.
2. The FSC relaxes the regulation related to the scope and conditions which an insurance company’s board of directors may grant general authorization for.
3. When the board of directors of an insurance company grants general authorization for acquisition (through investment) or disposal of ETFs issued by interested parties, such general authorization is not subject to the restriction that the acquisition/disposal shall not exceed 10% of the total amount of issued beneficiary certificates of a single fund. However, the amount of acquisition (through investment) or disposal of ETFs issued by interested parties that exceeds 10% of the total amount of the issued beneficiary certificates of a single fund shall be included in the aggregate transaction amount.
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Update：
2017-10-02