Taiwan clamps down on Tarfs over financial stability fears

FSC chairman says the regulator's focus is not "the domestic banking sector's profitability"

William Tseng
William Tseng: warning over exotic derivatives

The Taiwan financial regulator's recent move to further restrict the sales of target redemption forwards (Tarfs) and discrete knock-outs (DKOs) was driven by a focus on financial stability and protecting investor interests, says William Tseng, Taiwan Financial Supervisory Commission (FSC) chairman.

Taiwan corporates have experienced significant losses in the past 18 months after the renminbi unexpectedly reversed its appreciation versus the dollar; this happened first in February 2014 and then a

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