The Financial Supervisory Commission (FSC) said on Thursday that it has drafted amendments to the Regulations Governing Foreign Bank Branches and Representative Offices (外國銀行分行及代表人辦事處設立及管理辦法) and the Rules Governing Offshore Banking Branches (國際金融業務分行管理辦法).
The amendments will take effect after the financial regulator considers industry feedback. Foreign banks will be given a grace period of one year to comply with the requirements.