Fidelity may appeal SFC judgement

Fidelity is considering an appeal against a decision from the Taiwan Securities and Futures Commission (SFC) which the company believes is aimed at undermining foreign fund management companies. In mid-June, Taiwan regulators ordered Fidelity Investment Management and Dresdner RCM Global investors to dismiss senior executives on the grounds they had violated rules on providing information about unregistered mutual funds. SFC section chief Ho Shi-shun said: "They seriously violated Taiwan's securities regulations and the two companies must report to the SFC promptly on their dismissal." ...