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Cabinet approves draft amendments to Securities Investment Trust and Consulting Act


The Cabinet on Thursday approved draft amendments to the Securities Investment Trust and Consulting Act, proposed by the Financial Supervisory Commission (FSC). The draft amendments will provide Taiwanese investors with a more secure investment environment and curb online investment scams. The proposed changes will now be submitted to the Legislative Yuan for deliberation.

Premier Chen Chien-jen said that the amendments will require investment-related online advertising to be registered on a real-name database and will also allow for the removal of fraudulent advertisements. These changes are necessary to curb the incidence of online investment scams and will provide a more secure investment environment. The premier directed the FSC to communicate and coordinate with legislative caucuses of all parties to complete the amendment procedure as soon as possible. He also called on all related ministries and agencies to work together in cracking down on fraudulent investment practices.

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