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Article 3-1
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With the exception of qualified institutional investors, a principal that makes an initial trade of listed depositary receipts shall first sign a risk disclosure statement before the securities broker may accept the principal's trading order.
The risk disclosure statement of the preceding paragraph is to be announced by the TWSE.
The term "qualified institutional investor" as used in paragraph 1 means a foreign or domestic bank, insurance company, bills finance company, securities firm, fund management company, government investment institution, government fund, pension fund, mutual fund, unit trust, securities investment trust company, securities investment consulting company, trust enterprise, futures commission merchant, futures service enterprise, and any other institution approved by the competent authority.
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