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FSC signs an exchange of letters (EoL) on insurance supervision cooperation with ACPR

Recognizing the importance of financial supervisory co-operation to financial stability and integrity of the financial system, Dr. Tien-Mu HUANG, Chairperson of the Financial Supervisory Commission (FSC), and Mr. François Villeroy de Galhau, Governor of the Bank of France and ex-officio President of the French Prudential Supervision and Resolution Authority (ACPR), have signed an EoL regarding insurance supervision cooperation. The EoL includes provisions governing information sharing, assistance with on-site examinations,  and cooperation in the supervision of cross-border establishments, and will serve as the basis for further supervisory cooperation in insurance between Taiwan and France.

Currently, Taiwanese financial institutions have 1 business operation in France, while French financial institutions have 8 business operations in Taiwan, including 3 insurance companies. Taiwan has signed regulatory cooperation documents with France in the areas of securities and futures, banking, and Fintech in 1994, 2006 and 2019, respectively. These cooperative documents allow both sides to achieve full-range financial regulatory cooperation on banking, securities and futures, insurance and Fintech matters. As of January 2023, the FSC has signed 70 regulatory cooperation documents with 66 foreign agencies.

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  • Update: 2023-01-09