MEET THE REGULATOR - Feeling the heat

Taiwan Securities Exchange Corp (TSEC) chairman Wu Nai-jen is a heavyweight figure in the country's ruling faction, the Democratic Progressive Party. Appointed in October 2004 to oversee aggressive consolidation in Taiwan's fragmented banking sector, Wu immediately shocked the TSEC's 500 staffers by pushing five senior vice-presidents into early retirement and warning that 30 older employees would be made redundant each year. Wu is already under pressure to resign over the so-called "Stock Vulture" insider-trading scandal that allegedly involves senior finance officials. Elliot Wilson caught up with him in New York.