Taiwan mulls easing review process on QFII applications in stock market - report |
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Published
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Thu, 19 Jul 2007 02:13
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TAIPEI (XFN-ASIA) - The Executive Yuan, or cabinet, is considering easing the review process on applications from qualified foreign institutional investors (QFIIs) seeking to invest in the stock market, the Economic Daily News reported, citing unnamed government officials.Current rules require QFII applications involving investment of less than 50 mln usd to secure approval from the Financial Supervisory Commission (FSC) while those involving over 50 mln usd must get the go-ahead from the Investment Commission at the Ministry of Economic Affairs.The government is mulling a change in rules that would result in QFII applications involving investment of over 50 mln usd being reviewed by the FSC rather than the Investment Commission, the report said.The Investment Commission is usually stricter in its review process.The government is considering the rule change to improve the entry of foreign capital into the equity market, the Economic Daily News said.The paper said that foreign investments that lead to acquisition of 10 pct or more stakes in local firms or those that will lead to board seats will still need approvals from the Investment Commission.adela.lin@afxasia.comal/rcxfnal/xfnrcCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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