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CTL fined over faulty beneficiary disclosure: FSC


CTL fined over faulty beneficiary disclosure: FSC
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission (FSC) yesterday fined Hong Kong-based Capital Target Ltd (CTL, 建群), a major shareholder of Jih Sun Financial Holding Co (日盛金控), NT$25 million (US$898,569) for its faulty beneficiary disclosure and ordered CTL to offload part of its stake in Jih Sun within a year.
CTL holds a 24.09 percent stake in Jih Sun and the commission would allow the company to retain a 5 percent stake, Banking Bureau Deputy Director Sherri Chuang (莊秀媛) told a videoconference, adding that its regulations require any shareholder with more than a 5 percent stake in a local financial conglomerate to reveal its beneficiaries. ....

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Last year saw fewer M&As, but 47% more value: PwC

Although the number of mergers and acquisitions (M&As) last year fell, the overall value surged 47 percent from a year earlier, propelled by US-China trade tensions, technological innovations and a realignment of the electronics supply chain, an annual report by PricewaterhouseCoopers (PwC) Taiwan said yesterday.
“The M&A market took a hit from the COVID-19 pandemic last year, but may regain dynamism this year, helped by sustained monetary easing by global central banks and expectations of an economic recovery from the pandemic,” Lu Ming-kuang (盧明光), chairman of the Taiwan Mergers & Acquisitions and Private Equity Council (台灣併購與私募協會), said in the report.
Taiwanese firms, ....

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