Taiwan to ease rule for local brokerages to invest overseas

TAIPEI Tue Feb 18, 2014 11:11pm EST

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TAIPEI Feb 19 (Reuters) - Taiwan's financial regulator said on Wednesday it will ease rules to make it easier for local securities houses to tap Asian markets starting in the next quarter.

The Financial Supervisory Commission will allow brokerages to invest more of their money overseas, Chairman William Tseng told reporters. The current investment limit is 40 percent of their net worth.

"Our purpose is to let them go beyond Taiwan and make a presence in Asia," he said. No other details were immediately available.

Taiwan's securities industry has been struggling with stiff price competition in the crowded home market.

(Reporting by Lin Miao-jung; Writing by Faith Hung; Editing by Kim Coghill)

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