To strengthen corporate governance and increase the flexibility of financial holding companies for the appointment of professional directors, the FSC amended Articles 3, 4-1, and 9 of the "Regulations Governing Qualification Requirements for the Founder or Responsible Persons of Financial Holding Companies and Concurrent Serving Restrictions and Matters for Compliance by the Responsible Persons of a Financial Holding Company" on December 1, 2022. A major amendment states as follows: "A director, supervisor, or general manager, or a related person thereof, of a financial holding company who acts concurrently as a director, supervisor or general manager of another financial holding company will be deemed to have a conflict of interest." And another newly added provision states that where a financial holding company has a bank subsidiary, if there are other facts sufficient to demonstrate that a director of that financial holding company possesses professional knowledge of banking, then that director may also be deemed to possess relevant financial expertise, and this provision also applies mutatis mutandis where the financial holding company has an insurance subsidiary or a securities subsidiary, respectively. This amendment can strengthen the ability of a financial holding company to prevent conflicts of interest, and will also make it easier for the financial holding company to appoint as directors persons who possess a diverse range of expertise in banking, insurance, or securities, which will help the financial holding company to achieve sound business development.