Reported 10 months ago
The Financial Supervisory Commission (FSC) clarified that it maintains a consistent stance on the potential merger between Taiwan Shin Kong Financial Holding and E.SUN Financial Holding, emphasizing adherence to legal regulations. Reports suggested disagreements within the FSC regarding the recognition of E.SUN's private equity by Taiwan Shin Kong, but the FSC stressed that without formal applications, they cannot comment. The cancellation of a planned board meeting by Taiwan Shin Kong was interpreted as a requirement to first obtain FSC approval. E.SUN's subsidiary, E.SUN Life, faces capital shortfalls and seeks capital infusion while being 100% owned by E.SUN Financial Holding, leading to regulatory concerns. E.SUN Financial Holding's potential investment in E.SUN Life is subject to FSC approval under certain conditions.
Source: YAHOO