Taiwan’s FSC to Require Nomination Committees at All Financial Holding Companies and Banks

Taiwan’s Financial Supervisory Commission plans to formalize board nomination procedures by requiring all financial holding companies and banks to establish nomination committees, seeking to prevent independent director candidates from being drawn too heavily from circles close to board chairs. The measure is intended to make director selection more independent and transparent while strengthening governance and risk oversight at financial institutions.

As of July 20, 2026, the FSC had announced the initiative but had not set a formal effective date. It also plans to increase the annual training hours required for independent directors, with courses covering operational governance, risk management and emerging technologies. The additional hours and implementation timetable remain subject to further rules.