Key facts
- Taiwanese fund managers are advocating for the removal of a ban on mobile phone use during trading hours.
- Taiwanese regulators are strengthening measures against insider trading by fund managers, including stricter mobile device controls.
- Six former fund managers have been indicted for illicitly profiting NT$270 million through insider trading.
- The U.S. is reportedly planning to impose new tariffs on numerous countries.
- Details regarding the countries and specific tariff rates for the U.S. tariffs remain undisclosed.
Fund managers in Taiwan are urging regulators to lift a ban on mobile phone usage during stock and bond market trading hours, a rule that has been in place for approximately two years. This push comes as Taiwanese authorities are also reinforcing measures to combat insider trading among investment professionals.
Recent indictments of six former fund managers from four major investment firms for allegedly profiting NT$270 million through insider trading have prompted regulators to enhance oversight. New regulations are being considered, including elevating the requirement for internal audit heads to vice president level or higher and formalizing rules for the management of communication devices like mobile phones. Violations of these new regulations could result in penalties ranging from reprimands and warnings to the removal of management personnel, though no fines are specified. A one-year grace period will be provided for compliance with these new rules.
Separately, U.S. Trade Representative Katherine Tai indicated that the Trump administration is preparing to implement new tariffs on dozens of countries. The specific nations targeted and the details of the proposed tariff rates have not yet been disclosed, suggesting a potential expansion of trade restrictions.