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Taiwan to tighten regulation on robot investment advisers


Financial regulators in Taiwan plan to increase scrutiny on securities investment consulting services that utilise robot advisers to protect investors from manipulation. The Financial Supervisory Commission (FSC) announced that it will work with the Securities Investment Trust and Consulting Association to amend the Regulations Governing Securities Investment Consulting Enterprises to raise the maximum fine for malpractice to NTD15m (USD489,205) from NTD3.6m. The regulator also intends to review robot advisory algorithms to assess their investment terms, ability to react to market changes, and whether employees at firms can manipulate the results. Companies have thus far been allowed to self-regulate their algorithms, but a panel of experts will now conduct reviews.

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