The Taiwan Financial Supervisory Commission (FSC) has published draft guidelines allowing securities brokerages to issue exchange-traded notes (ETNs), in a move that will pave the way for the new products to be listed on local exchanges before the end of this year, according to the Tapei Times. It would take at least seven to eight months for brokerages to update their back-end systems to accommodate the new type of unsecured, unsubordinated debt security, the commission said at a news conferen

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