Press Release
FSC authorizes new regulatory sandbox experiment- Robo Advisor service for implementing financial inclusion
2021-03-12
The Financial Supervisory Commission (FSC) announced its approval of a joint experiment application by ALPHA Robo-Advisor and SinoPac Securities which aims to provide a "Robo Advisor service for implementing financial inclusion" in the regulatory sandbox for one year.
ALPHA Robo-Advisor and SinoPac Securities submitted their application on November 12, 2020, which is the first case approved by the FSC to take part in the sandbox experiment in 2021.
In the past, because of the high investment thresholds that financial institutions set for wealth management and overseas reconsignment securities trading, as well as the limited availability of information about overseas securities, small reatail investors find it not easy to make their own investment plans or determine asset allocations on their own. In order to provide them with affordable, high-quality financial services, ALPHA Robo-Advisor and SinoPac Securities collaboratively launch the service. In that, ALPHA Robo-Advisor will provide investment advice to investors based on their risk tolerance and enable them to place purchase orders on foreign ETFs with fixed amount periodically according to the advice through an API connecting to SinoPac Securities. With this service, the small retail investors may benefit from the professional investment advice even though they only invest in with small amount of capital. The idea of the experiment is to enable investors to allocate their assets worldwide and accumulate wealth, thus achieving the goal of financial inclusion.
In the future, the FSC will continue to promote FinTech innovation by encouraging financial institutions, tech firms, and start-ups to participate in regulatory sandbox experiments or business trials to develop diversified, tailor-made, innovative financial products and services that meet consumers' needs, increase the efficiency and reduce costs. The FSC will take into account the effectiveness of this experiment and study whether to amend relevant financial regulations to boost financial market vitality and achieve the goal of financial inclusion. The FSC welcomes teams having innovative technologies or business models to apply to take part in regulatory sandbox experiments, and will provide counseling and legal advisory services to those teams.
Contact::Marcus Tsai, Division Director of the Fintech Innovation Center
Telephone: (02)8968-0086
If you have any questions, please write to:FSCmail
ALPHA Robo-Advisor and SinoPac Securities submitted their application on November 12, 2020, which is the first case approved by the FSC to take part in the sandbox experiment in 2021.
In the past, because of the high investment thresholds that financial institutions set for wealth management and overseas reconsignment securities trading, as well as the limited availability of information about overseas securities, small reatail investors find it not easy to make their own investment plans or determine asset allocations on their own. In order to provide them with affordable, high-quality financial services, ALPHA Robo-Advisor and SinoPac Securities collaboratively launch the service. In that, ALPHA Robo-Advisor will provide investment advice to investors based on their risk tolerance and enable them to place purchase orders on foreign ETFs with fixed amount periodically according to the advice through an API connecting to SinoPac Securities. With this service, the small retail investors may benefit from the professional investment advice even though they only invest in with small amount of capital. The idea of the experiment is to enable investors to allocate their assets worldwide and accumulate wealth, thus achieving the goal of financial inclusion.
In the future, the FSC will continue to promote FinTech innovation by encouraging financial institutions, tech firms, and start-ups to participate in regulatory sandbox experiments or business trials to develop diversified, tailor-made, innovative financial products and services that meet consumers' needs, increase the efficiency and reduce costs. The FSC will take into account the effectiveness of this experiment and study whether to amend relevant financial regulations to boost financial market vitality and achieve the goal of financial inclusion. The FSC welcomes teams having innovative technologies or business models to apply to take part in regulatory sandbox experiments, and will provide counseling and legal advisory services to those teams.
Contact::Marcus Tsai, Division Director of the Fintech Innovation Center
Telephone: (02)8968-0086
If you have any questions, please write to:FSCmail
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- Update: 2021-03-12