Taiwan appoints new regulator chief

Taiwan has appointed Jaw Sheng Kong as chairman of the newly formed Financial Supervisory Commission. Kong, 48, is currently chairman of state-owned Taiwan Sugar Corp, said the Executive Yuan, the island's Cabinet.

The new agency will come into operation on July 1 and is being formed from the combination of the Ministry of Finance's Bureau of Monetary Affairs, the Department of Insurance, the Securities and Futures Commission and the central bank's Bank Examination Department.

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