Pursuant to the amendment of the “Organizational Act of the Executive Yuan “of Feb 3, 2010, the FSC was a council established under the Executive Yuan. As a result, the “Organic Act Governing the Establishment of the Financial Supervisory Commission of the Executive Yuan" was amended to the " Organic Act Governing the Establishment of the Financial Supervisory Commission ". Major amendments are as follows：
1. Specifying the FSC’s subordinate agencies, and their work.
2. Specifying the appointment of the chairperson and vice chairpersons in accordance with the “Basic Code Governing Central Administrative Agencies Organizations”. In addition, to enhance the effectiveness and strengthen the policy coordination and integration of the FSC, the appointment of commissioners is designed to be more flexible, which means that the commissioners are to be appointed by the premier of the Executive Yuan from candidates who have relevant knowledge and experience in the financial profession.
3. With the organization changed, the commission meeting of the FSC evolves to be consultative. The “Regulations for Department Affairs of the Financial Supervisory Commission” further specifies the authority and convening methods of the commission meeting, and the division of duties of various department of the FSC.
4. Civil service ranks, grades, and the number of staff at the FSC are separately set out in a personnel establishment table.
5. The implementation date of the Act shall be prescribed by the Executive Yuan.
The “Organic Act Governing the Establishment of the Financial Supervisory Commission " was passed its 3rd reading in the Legislative Yuan on June 14, 2011, promulgated by the President on June 29,2011, and implemented in accordance with the Executive Yuan order of July 1, 2012.