Taiwan’s FSC moves to streamline fund processing
12 October 2012
News, Asia, Taiwan
By Hui Ching-hoo
Taiwan’s Financial Supervisory Commission (FSC) announced on Tuesday (October 9) that it will expand the coverage area of measures relating to the streamlining of fundraising and renewing processes from domestic equities funds to overseas equities and funds of funds.
Under the new guideline, the application process for fundraising will be shortened to 30 working days from the current 50 to 60 working days.
The new guideline is also applicable to domestic bond funds, balanced funds, and money market funds when they come to raising their quotas, where the process will be halved to seven working days.
The FSC noted that the new measure aims to assist local fund managers in launching their products in a timelier manner in order to capture market opportunities. Currently, 365 out of 621 local registered funds are equities funds and 67 are funds of funds.
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