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Title:

Directions for Securities Firms Engaging Futures Commission Merchants to Operate Securities Introducing Broker Business  CH

Announced Date: 2009.12.30
1     Futures commission merchants engaged by securities firms to operate securities introducing broker business (hereinafter the "Securities Introducing Broker") shall comply with these Directions in their operation of the businesses under Article 3 of the Regulations Governing the Operation of Securities Introducing Broker Business by Securities Firms (hereinafter the "Regulations") shall comply with these Directions.
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2     Account opening and account management
  1. Account opening personnel of securities firms are required to review each and every item in the account opening documents of securities investors sent from the Securities Introducing Broker, upon receipt of such documents. After confirming the correctness of the documents, the personnel shall key in the data to the computers of the Taiwan Stock Exchange Corporation (hereinafter "TWSE") and the GreTai Securities Market ( hereinafter "GTSM"), thus completing the account opening procedure.
  2. Securities firms shall keep the information of the account of the securities investors opened by the Securities Introducing Broker confidential except in the event of inquiries conducted as required by laws and regulations.
  3. The internal audit of the securities firms shall audit every week the information of the account of the securities investors opened by the Securities Introducing Broker engaged, targeting the deficiencies and giving guidance. The content of the guidance shall be to ensure the Securities Introducing Broker strictly complies with Article 5 of the Regulations.
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3     Fulfillment by securities firms of trading orders delivered by the Securities Introducing Broker
  1. Matters concerning the fulfillment by securities firm of trading orders delivered by the Securities Introducing Broker are governed by the applicable regulations of the competent authorities, TWSE and GTSM governing brokerage trading by securities firms.
  2. Securities firms fulfilling trading orders delivered by the Securities Introducing Broker shall inform the Securities Introducing Broker of the data of the brokerage trading after the end of business hours each day and shall retain the confirmation records.
  3. When errors occur in the trading order of the securities investor delivered by the Securities Introducing Broker, the Securities Introducing Broker shall notify the securities firm immediately. The securities firm shall report and manage the error accounts and correct the account number according to regulations and inform the Securities Introducing Broker of the results of its measures taken.
  4. The internal audit of the securities firm shall audit every week the brokerage trading authorized by the Securities Introducing Broker, targeting the deficiencies and giving guidelines. The content of the guidelines shall be to ensure the Securities Introducing Broker strictly complies with Article 6 of the Regulations.
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4     The site, equipment and access control of personnel of the place of business of the Securities Introducing Broker are governed mutatis mutandis by the applicable provisions of the TWSE and GTSM governing securities firms.
5     These Directions shall take effect after having been submitted to and approved by the competent authority. Subsequent amendments thereto shall be effected in the same manner.