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Article 76
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Upon discovering that the principal satisfies any of the following circumstances, a securities broker shall refuse to open an account, or refuse to take consignment from those already opened an account with the securities broker to trade or subscribe listed securities:
1. Minors who do not have the agency or authorization of their legal guardian.
2. Personnel or employees of the Competent Authority in charge of securities matters and of this Corporation.
3. Persons declared bankrupt and rights have not been reinstated.
4. Interdicted persons who are not represented by their statutory agents.
5. Juristic persons opening accounts that cannot supply proof that there is authorization to open the account.
6. Securities dealers which have not been approved by the Competent Authority.
7. Consigning the directors, supervisors, and employees of a securities firm to open an account with such securities firm on behalf of the principal.
8. More than one account for discretionary investment consignment has been opened at the same business premises of the same securities broker by the same principal with respect to the same consignee; provided, this restriction shall not apply to a principal that is a government fund such as a civil servant pension fund, labor pension fund, labor insurance fund, or postal remittance and savings fund and that, when consigning a same consignee for consigned discretionary investment, may open, at the same bu
siness premises of the same securities broker, different discretionary investment consignment accounts for different consignment contracts.
9. An offshore foreign institutional investor has opened more than one investment trading account at the same business premises of the same securities broker; provided, this restriction shall not apply where, for the purposes of operations of an external manager for investment strategy, or use of different trading platforms for internal investment operations, the agent or representative of the offshore foreign institutional investor has separately opened different investment trading accounts at the same
business premises of a single securities broker by submitting a registration certificate a letter of application for opening of an account signed personally by the agent or representative, and related evidentiary documents in accordance with the Taiwan Stock Exchange Corporation Directions for Registration of Securities Investment by Overseas Chinese and Foreign Nationals.
Internal personnel of securities brokers opening accounts for the trading of securities shall process such matters in accordance with the Measures Governing the Opening of Accounts by Internal Personnel of Securities Firms for Trading of Securities in Their Respective Securities Firms prescribed by this Corporation.
Upon discovering that the principal satisfies any of the following circumstances, a securities broker shall refuse to open an account, or refuse to take consignment from those already opened an account with the securities broker to trade or subscribe listed securities:
1. Any person that has breached a contract relating to securities trading, where this Corporation or the Over-the-Counter Securities Exchange have notified all securities brokers of this fact, and where the case has been closed and less than three years have elapsed, or where the case has not been closed and less than five years have elapsed.
2. Any person that has violated the Securities and Exchange Law or been suspected of forging (altering) listed or OTC securities documents and has been under public prosecution, or has been adjudicated criminally guilty by a final and unappealable court judgment within the last five years.
3. Any person that has breached a futures contract within the past three years, or where three years has elapsed but the case has not been closed, or that has violated future trading laws or regulations and has been adjudicated criminally guilty by a final and unappealable judgment of a judicial authority within the past five years.
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