Taiwan regulator says will amend rules as e-commerce booms

TAIPEI, June 3 Tue Jun 3, 2014 5:01am EDT

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TAIPEI, June 3 (Reuters) - Taiwan's financial regulator said on Tuesday that it will amend rules to help local financial service firms cope with the growing popularity of e-commerce, which is eroding their business.

William Tseng, chairman of the Financial Supervisory Commission, told reporters that one example of how amending rules could help existing firms would be to allow buyers of insurance sign up for it online instead of just in person, as currently required. (Reporting by Faith Hung; Editing by Richard Borsuk)

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