Taiwan Regulator Probes Firms for Pressuring Staff to Sell ETFs
Taiwan's financial regulator is probing 20 financial institutions over how they pushed staff to sell exchange-traded fund products, the latest sign of excessive competition in one of Asia's biggest ETF markets.
The Financial Supervisory Commission will probe ten brokerages, nine asset managers and a bank for allegedly pressuring staff to meet sales quotas for newly launched ETFs, said Huang Hou-ming, deputy director-general of the FSC's Securities and Futures Bureau. The regulator received complaint letters from employees across the firms, he said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
The Secret, And Future, To BYD's Success? EVP Stella Li Sums It Up
Executive Vice-President of Chinese electric and hybrid automotive manufacturer BYD, Stella Li. ... More Photo by JOEL SAGET/AFP via Getty Images The future of cars depends on appealing to younger buyers; the future of business depends on growing a company's markets, both domestic and international. It's that junction where Stella Li, executive vice president of BYD, is leading the company to unprecedented success as the electric car maker conquers new markets around the globe. Li, who recently earned an unprecedented award as the first female World Car Awards Person of the Year for 2025, sat with us to share her insights into both the strategy of BYD and the appeal that drives customer demand. BYD's designs are 'very trendy, and very stylish,' Li said, but it's the modern computer-like function that consumers want most. The company found that Chinese buyers, many of whom are purchasing their first car, want all the functions they find in their computers and phones, such as voice activation and multifunction features. The ability to ask the car to perform basic tasks, to be able to play a video game or stream a show when not driving and to use the car as a power source is hugely appealing and something that buyers gravitate to. But so are interior comforts and nicely finished cabins that cater to driver and passenger comfort. And it's a strategy that works. BYD's designs, and cute model names like Dolphin, Seal and Seagull, are not only appealing, but they resonate with car buyers by offering familiar features and quality that makes these often lower-priced cars not feel frugal. MUNICH, GERMANY - SEPTEMBER 5: Visitors look at an BYD Han electric car of Chinese car brand BYD at ... More the IAA Mobility 2023 international motor show Li is credited with BYD's expansion into international markets and with leading the brand's off-shore manufacturing strategy. While the company maintains a mega factory in Zhengzhou, China and has a sizable export business, the company's future is local, Li told us. 'In the future it's no longer exporting' cars, Li said. BYD will be a local company in the markets where it sells cars. To become truly local around the world, the company has or will build factories in Brazil, Hungary, Thailand, Uzbekistan, Turkey and Mexico. The photo taken on January 10, 2024 shows electric cars for export waiting to be loaded on the "BYD ... More Explorer NO.1." BYD's recent price reductions in China of about 30% rattled local markets there and caused a selloff of BYD stock. Still, the company's bargain priced entry-level EVs, which which sell for about $8,000 USD to about $14,000 USD in China, deliver strong appeal in foreign markets: they are affordable, comfy and easy to drive, though it's worth noting that BYD's prices in China don't translate directly in all markets; once tariffs, regulatory improvements and required safety features are added prices can differ greatly. Still, with governments around the world cracking down on carbon emissions, the all-electric range of about 200 miles has appeal, allowing BYD to get a foothold in new markets where inexpensive and efficient cars may not be as accessible. PRODUCTION - 06 December 2024, Berlin: A driver sits in a BYD Atto 3 car in the BYD store on ... More Budapester Strasse and turns the touchscreen in the cockpit. As an independent business with ties to the Chinese government but not state-owned, BYD is an agile and prolific producer of technology. When 'BYD started, it was a battery company,' Li said. But quickly, the company branched out into trucks, busses and cars to optimize both its own business and needs of Chinese buyers. Now, the company, which sold its first car just 20 years ago, is known for innovating super fast charging, a novel battery design and employing more than a million people including 120,000 research and development engineers. This agility is attributed to BYD's independence; as a public company it is not state-owned, though it has close ties to and oversight by the Chinese government. Still, with the autonomy to branch out and develop the products and systems that resonate in the marketplace, BYD can build and sell cars in countries that are receptive to its business. Visitors inspect a BYD Seagull car during the 45th Bangkok International Motor Show In addition to Li's Person of the Year award, BYD's Seagull/Dolphin Mini EV was the recipient of the 2025 World Urban Car award, the first Chinese car brand to win on the global stage. The award reflects Li's strategy of building and selling the company's EVs around the world. Even though China leads the world in sheer numbers of cars sold, most sales are limited to China and not accessible to awards juries outside the country. Not so for BYD, which for the first time saw journalists around the world test driving its models for award consideration. And the award confirms what Li told us: the strategy of combining future-forward technology and trendy, modern design is a winning equation and the secret to BYD's success.
Bloomberg
3 hours ago
- Bloomberg
Stock Movers: Warner Brothers Discovery, Qualcomm, Starbucks
On this episode of Stock Movers: - Warner Brothers Discovery (WBD) shares rise after the company said it will split its streaming and studios business and its TV networks operations by the middle of next year. The streaming and studios company will include Warner Brothers Television, the Motion Picture Group, DC Studios, HBO, and HBO Max. - Qualcomm (QCOM) shares rise after the company reached an agreement to buy Alphawave for $2.4 billion. The offer equates to about 183 pence per share for Alphawave -- a 96% premium to the company's share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks. - Starbucks (SBUX) shares rise after the company announced price cuts for a slew of its tea-based beverages at its stores across China. It's the latest campaign to appeal to Chinese consumers for non-coffee offerings during summer.
The Verge
4 hours ago
- The Verge
China shuts down AI tools during nationwide college exams
Chinese AI companies have temporarily paused some of their chatbot features to prevent students from using them to cheat during nationwide college exams, Bloomberg reports. Popular AI apps, including Alibaba's Qwen and ByteDance's Doubao, have stopped picture recognition features from responding to questions about test papers, while Tencent's Yuanbao, Moonshot's Kimi have suspended photo-recognition services entirely during exam hours. The increasing availability of chatbots has made it easier than ever for students around the world to cheat their way through education. Schools in the US are trying to address the issue by reintroducing paper tests, with the Wall Street Journal reporting in May that sales of blue books have boomed in universities across the country over the last two years. The rigorous multi-day 'gaokao' exams are sat by more than 13.3 million Chinese students between June 7-10th, each fighting to secure one of the limited spots at universities across the country. Students are already banned from using devices like phones and laptops during the hours-long tests, so the disabling of AI chatbots serves as an additional safety net to prevent cheating during exam season. When asked to explain the suspension, Bloomberg reports the Yuanbao and Kimi chatbots responded that functions had been disabled 'to ensure the fairness of the college entrance examinations.' Similarly, the DeepSeek AI tool that went viral earlier this year is also blocking its service during specific hours 'to ensure fairness in the college entrance examination,' according to The Guardian. We were unable to find any public announcements from the AI companies mentioned, with The Guardian reporting that news around the shutdowns is being driven by students on the Chinese social media platform Weibo. The gaokao entrance exam incites fierce competition as it's the only means to secure a college placement in China, driving concerns that students may try to improve their chances with AI tools.
