Federal Bank's planned investment in MaiCoin's offshore holding company denied by FSC
Key facts
- Federal Bank's planned investment in MaiCoin's offshore holding company denied by FSC
- Federal Bank's plan to invest in MaiCoin's offshore holding company was halted after the Financial Supervisory Commission (FSC) determined it was not a financial-related business. Federal Bank states that this will not have a significant impact on its financial operations.
- Source: PR Times
- Date: May 11, 2026
Direct answer
Federal Bank's plan to invest in MaiCoin's offshore holding company was halted after the Financial Supervisory Commission (FSC) determined it was not a financial-related business. Federal Bank states that this will not have a significant impact on its financial operations.
- Citation
- Federal Bank's planned investment in MaiCoin's offshore holding company denied by FSC (May 11, 2026), PR Times
- Source
- PR Times
- Date
- May 11, 2026
Federal Bank's plan to invest in MaiCoin's offshore holding company was halted after the Financial Supervisory Commission (FSC) determined it was not a financial-related business. Federal Bank states that this will not have a significant impact on its financial operations.
📋 Article Processing Timeline
- 📰 Published: May 11, 2026 at 23:06
- 🔍 Collected: May 11, 2026 at 23:31 (25 min after Published)
- 🤖 AI Analyzed: May 12, 2026 at 00:28 (56 min after Collected)
Federal Bank issued a material information statement today explaining that the board of directors approved the acquisition of shares in Modernity Financial Holdings, Ltd. on August 25 last year. The investment was subject to approval by the FSC before it could be carried out.
Federal Bank had originally planned to acquire 5.356 million shares for a total of US$27.817 million (approximately NT$850 million), representing a 9.67% stake. Its subsidiary, Federal Venture Capital, was also to transfer all its shares in Modernity Financial Holdings, Ltd. to Federal Bank.
However, the FSC issued a letter interpreting that Modernity Financial Holdings, Ltd. is not a financial-related business. Consequently, Federal Bank stated in its material information announcement that the investment would not be executed, and the change would not have a significant impact on the company's financial operations. (Editor: Pan Yi-Ching) 1150511
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FAQ
What are the key facts in this article?
Federal Bank's plan to invest in MaiCoin's offshore holding company was halted after the Financial Supervisory Commission (FSC) determined it was not a financial-related business. Federal Bank states that this will not have a significant impact on its financial operations.
What is the direct answer?
Federal Bank's plan to invest in MaiCoin's offshore holding company was halted after the Financial Supervisory Commission (FSC) determined it was not a financial-related business. Federal Bank states that this will not have a significant impact on its financial operations.
What is the source and date?
PR Times: https://www.cna.com.tw/news/afe/202605110328.aspx | May 11, 2026