FSC chairman’s resignation approved

Financial Supervisory Commission (FSC) Chairman Ding Kung-wha (???) offered to step down on Monday and his resignation was approved by Premier Lin Chuan (??), according to Executive Yuan spokesman Hsu Kuo-yung (???).

FSC Vice Chairman Kuei Hsien-nung (???) has also resigned. Ding will be temporarily replaced by Huang Tien-mu (???), another FSC vice chairman, Hsu said at a news conference

In a statement issued earlier the same day, Ding announced he was stepping down to assume responsibility for the money laundering allegations involving Mega Holdings Limited., which were first made public in August.

Although the FSC immediately launched an administrative probe and set up a task force to investigate the case, Ding indicated he was resigning in an effort to stop attacks on the FSC and clear his name.

Source: Focus Taiwan News Channel