New trend in financial markets: equal emphasis on security and development
Peng Jinlong, chairman of the Financial Supervisory Commission, accepted a joint interview with the media for the first time on Monday, one month after taking office on 520. In an exclusive interview, Peng Jinlong emphasized that establishing a financial market that advances both "security" and "development" will be the main focus of his policy, and revealed that he will promote three waves of important policies.
First wave: Publish action innovation regulatory adjustment plan
Peng Jinlong announced the first wave of policies as the "Mobile Innovation Regulation Adaptation Plan." Before he officially took office, he went on a solicitation trip to associations and industry players, collecting a total of 124 suggestions from the three financial industries. After evaluation, 38 were confirmed to be feasible at present, and he will respond to industry demands quickly.
Second Wave: Financial Development and Innovation Regulation Adjustment Suggestion Platform
The second wave of policies is the newly established "Financial Development and Innovation Regulation Adjustment Suggestion Platform", which is divided into four major areas: banking, insurance, securities and futures, and technological innovation. Peng Jinlong said that the Financial Supervisory Committee will take the initiative and set up a regulatory review team composed of industry, government and academia, with special emphasis on external leadership by scholars and experts, proactively identify problems from the market, and implement normal settings.
The third wave: Asian asset management hub, new money stays in Taiwan
The third wave of important policies is to promote the Asian asset management center. Peng Jinlong emphasized that the goal is to "keep new money in Taiwan." He will discuss countermeasures with the National Development Council, learn from other countries' multi-city division of labor model to establish centers, and strive to break through the past restrictions of only setting up in a single city.
New investment opportunities in life insurance industry
Peng Jinlong also mentioned in the interview the importance of life insurance companies striving for domestic investment opportunities. The Insurance Bureau has held a meeting with six major life insurance companies to discuss breakthroughs in the source, conditions and methods of public construction projects. Peng Jinlong proposed an "experimental case" solution. First, succeed in the case, and then convince other ministries to promote it comprehensively. This is also closely related to promoting the Asian Asset Management Center.
Taiwan’s unique asset management center
Although previous chairmen of the Financial Supervisory Commission in the past had hopes of promoting an "Asian Asset Management Center", most of them failed. Peng Jinlong hopes to build an asset management center with Taiwanese characteristics through preparations and brewing over the past 20 years. He pointed out that Taiwan has abundant private wealth and many successful overseas Taiwanese businessmen, and these advantages can be used to establish a unique asset management center.
A lightweight sandbox that drives fintech
Regarding the opening up of financial technology, Peng Jinlong emphasized that Taiwan has a good technological background and a serious financial industry, so it will launch a "lightweight sandbox" in the future. This policy will expand the scope of pilot projects to regulations that can be decided by the competent authorities. Through loosening restrictions, the scope of financial technology experiments will be greatly expanded and cooperation between financial technology companies and financial companies will be promoted.
This article Peng Jinlong’s three new policies of the Financial Supervisory Commission: Promoting the Asian Asset Management Center and Lightweight Sandbox first appeared on Chain News ABMedia.
