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FSC commission to probe Mega Ban

Premier Lin Chuan (林全) yesterday instructed the Financial Supervisory Commission (FSC) to form an investigative committee from members of the central bank, and the ministries of justice and finance after the New York branch of Mega International Commercial Bank (兆豐銀行) was ordered to pay a massive fine for violating US money-laundering rules.

Lin said he hopes that the details of the case are clarified as soon as possible, and that any Mega International employees responsible for the situation are identified.

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KMT outcast to join committee

A former Chinese Nationalist Party (KMT) member, who was sacked in June for his outspokenness, has confirmed plans to join a committee investigating the party’s illegal assets, drawing fire from KMT members.

Committee of Illegal Party Asset Settlement chairman Wellington Koo (顧立雄) on Thursday said that he consulted with former KMT spokesman Yang Wei-chung (楊偉中) last week and invited him to join the committee.

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Newsflash

The Chinese Nationalist Party (KMT)-dominated legislature is expected to ratify the Economic Cooperation Framework Agreement (ECFA) and amendments to related legislation as early as tomorrow after a consensus on how to review the pact was reached yesterday.

The consensus, pending confirmation at the legislature’s plenary session today, is expected to defuse the possibility of a boycott by Democratic Progressive Party (DPP) lawmakers should they be denied the right to vote on the agreement article by article.