The revised cosmetics law shows promise, but implementation issues remain. Of the eight issues raised the previous year that AmCham Taipei’s 2019 Taiwan White Paper deemed to have been fully resolved, half related to a single industry – cosmetics: Clarifying the definition of cosmetics under the law to avoid creating technical barriers to trade. Clearly…
New York regulators’ fining of Mega Bank last year for lax compliance practices was a wake-up call. In a victory for the nation’s regulators, Taiwan in July was removed from a regional list of countries judged to have insufficient money-laundering controls. Taiwan had spent months revising legislation and pushing its financial institutions to crack down…
Amendments to the Electricity Act approved by the Executive Yuan on October 19 are intended to further two goals that President Tsai Ing-wen has made cornerstones of her administration: eliminating nuclear power and greatly increasing power generation from renewable energy sources. The amendments will now go the Legislative Yuan for deliberation, and if passed will…
