September 17, 2024_ The Taiwan Financial Supervisory Commission announced that it rejected the proposed merger between Cathay Financial and Shin Kong...
September 17, 2024_ The Taiwan Financial Supervisory Commission announced that it rejected the proposed merger between Cathay Financial and Shin Kong Financial, citing four main reasons. These include the lack of a clear plan to ensure absolute control over Shin Kong and uncertainties related to the financial stability of the two entities. In addition, the Commission highlighted that the purchase plan submitted by Cathay does not meet the regulatory requirements for a merger in the financial sector. The news was reported by 工商時報, highlighting the importance of maintaining order in the Taiwanese financial market. Cathay Financial is one of the major financial groups in Taiwan, while Shin Kong Financial is known for its operations in the insurance sector.
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