Taiwan pursues non-approved funds

It''s called jiawaiji and it''s a no-no in the Taiwan investment community.

It's called jiawaiji and, at the moment, it's only frowned upon by Taiwan financial regulators. But managers investing with non-approved overseas monies may soon face hefty fines or be disqualified from trading, the Securities and Futures Commission SFC said this week.

SFC chairman Lin Tzong-yeong has told politicians that the commission has finalised changes to the laws governing investments by foreign investors. This follows speculation that some foreign securities firms are the subjects of SFC investigations into companies investing with non-approved overseas monies.

Presently, Taiwan has investment capital ceilings in place for foreign investors with the purpose of protecting the country's currency from what it sees as destabilizing speculative forces.


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