Looming Taiwan regime hitting smaller foreign fund houses

With a new, stricter regime for foreign asset managers about to take hold in Taiwan, access to the market will be tougher, particularly for smaller fund houses lacking an onshore business. In addition, most overseas managers will face longer fund approvals and limits on how much capital they can raise locally. Yet fears that the Financial Services Commission's so-called “deep-cultivation” scheme would force overseas firms to exit the market appear unfounded. They are not leaving –…