Standard Chartered Bank (Taiwan) has announced that it will buy back from investors all structured products that it sold to them as an agent for the PEM Group, and will press claim against the PEM Group for compensation. The FSC in April called meetings of all the banks that had sold PEM products in Taiwan to discuss how to handle the problem and safeguard investor interests. At the meetings, the FSC asked the banks to put forward a plan by 1 May for protection of investor interests. Once the plan has been finalized, the banks will announce it and jointly retain a law firm to investigate the situation and sue for compensation. The case has been investigated by the US Securities and Exchange Commission（SEC）, which reached a preliminary finding that PEM Group had engaged in fraud. A US district court froze the assets of the group and its CEO, and issued an order for the CEO''s arrest. The FSC will be in close contact with the US SEC on this matter, and stands ready to provide necessary information to expedite the handling of the case and ensure that investor interests are properly safeguarded.