FSC fines Mega NT$10 mil., orders 6 executives removedTAIPEI, Taiwan -- The Financial Supervisory Commission (FSC, 金管會) fined the scandal-hit Mega Financial Holding Co. (兆豐金控) NT$10 million and ordered the removal of six high-ranking personnel from their posts, Wednesday. "This is the first time in our nation's history that six senior banking executives have been ordered to resign," said FSC Vice Chairman Kuei Hsien-nung (桂先農). Executives removed from their posts include former Chairman Mckinney Tsai (蔡友才) and Chief Executive Officer Wu Han-ching (吳漢卿), among others. Mega Bank is the flagship banking unit of Mega Financial Holding Company. As the largest shareholder, the government occupies seven out of thirteen seats on the board of directors of Mega Financial.

Source: The China Post September 14, 2016 18:11 UTC