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Article 1
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To help securities firms engage in digital development and strengthen how digital services are provided to facilitate flexible utilization of human resources and office premises, and to implement risk control, Taiwan Stock Exchange Corporation (TWSE) and Taipei Exchange (TPEx) jointly establish these Directions for compliance.
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Article 2
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- 1. Digital services: For purpose of these Directions, digital services refer to the financial services provided by securities firm to their clients via technologies and network in the form of digital experience area and customer service center.
- 2. Digital experience area: The term refers to the business premises where digital interface equipment that meets the information and communication security standards are installed, available to random users to use or experience services relating to the securities business operated by the securities firm, where service specialists may be available to provide consulting services, introduce and promote products.
- 3. Customer service center: The term refers to the business premises where the securities firm passively provides consulting, securities business activity promotion and product description services to the clients, and resolves consumer disputes and handles feedbacks via online AI customer services, telephone, email, correspondence or other innovative technologies.
- 4. Responsible entity: For contract for use of the centralized securities exchange market signed with the securities exchange, the responsible entity is the securities exchange. For contract for trading of securities on the over-the-counter market by a securities firm signed only with the TPEx, the responsible entity is TPEx.
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Article 3
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- Application qualification: Securities firm providing brokerage services.
- Establishment standards:
- Venue: Located only within the business premises of the head office or branch. There should be a clear separation with the business counters specifically for consigned trading of securities and the trading room specifically used for accepting non-in-person consignment.
- Equipment:
- An adequate number of digital interface equipment may be installed and no functions of placing an online order may be available.
- The securities firm shall assess the information and communication security and personal information risks for the services available by the equipment and establish control measures.
- The information and communication security mechanism shall meet the standards and requirements of the securities firm’s internal control system.
- Staff qualification:
- The securities firm may have an adequate number of business staff or the head office or branch may designate the staff qualified as associated person to take the role concurrently.
- The business staff providing services at the digital experience area must register as digital service staff at the one-stop website for securities firm’s registration. Also, the official and unofficial concurrent duties must be consistent with the Rules Governing Responsible Persons and Associated Persons of Securities Firms.
- Scope of services
- Educate a client to use digital tools, including account opening, operating consigned trading system and account services.
- Provide client consulting services, activities information about financial products and introduce and promote products.
- Not allowed to engage in consigned trading of securities or act as an agent to operate digital tools on behalf of the client.
- Procedures for application for installation or change
- The securities firm shall submit the following application documents, specifying the venue, to the responsible entity for approval. Where the area of business premises needs an expansion for installation of the digital experience area, for which the address of business premises will be changed, an application for a new approval and certificate of license for securities firm shall be filed at the same time:
- Description of the scope of services.
- List of staff and qualification certification documents.
- Floor map and photographs of the venue.
- Information showing the equipment satisfies the standards, information and communication security risk assessment documents and control measures shall include details of equipment, technological specifications, innovative technologies to be used (such as cloud computing, equipment for the internet of things, biometric identification, mobile devices, etc.), and the securities firm’s information and communication security, personal information risks and control measures with respect to the relevant equipment and technological evaluations.
- The securities shall report the start date to the responsible entity before the digital experience area begins operation.
- In the event of expansion or contraction of the digital experience area, prior to its use, a report containing the floor map and photographs of the venue shall be submitted to the responsible entity for recordation. Before the area is removed, a report containing the reason for the removal shall be submitted to the responsible entity for recordation.
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Article 4
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- Application qualification: All securities firms.
- Establishment standards:
- Venue: Not limited to a place within the county/city where the head office or branch is located, provided the venue shall not be used as a place where clients may visit in person. If it is located within the head office or branch, there should be a clear separation with the business premises.
- Equipment:
- The securities firm shall assess the information and communication security and personal information risks for the services available by the equipment and establish control measures.
- The information and communication security mechanism shall meet the standards and requirements of the securities firm’s internal control system.
- Staff qualification:
- The securities firm may have an adequate number of business staff or the head office or branch may designate the staff familiar with the applicable securities laws and operational procedure to take the role concurrently.
- The business staff providing services at the customer service center must register as digital service staff at the one-stop website for securities firm’s registration. Also, the official and unofficial concurrent duties must be consistent with the Rules Governing Responsible Persons and Associated Persons of Securities Firms.
- Scope of services
- Provide client consulting services, resolve consumer disputes and handle feedbacks.
- Passively provide clients with information about financial products, trading platform, activities relating to securities business and market updates.
- Not to provide any advice on client’s investment portfolio that involves business promotion, or accept client’s consignment on securities trading, or accept client’s personal visit for application for or discussion of business.
- Procedures for application for installation or change
- The securities firm shall submit the following application documents, specifying the venue to the responsible entity for approval:
- Description of the scope of services.
- List of staff and qualification certification documents.
- Floor map and photographs of the venue.
- Information showing the equipment satisfies the standards, information and communication security risk assessment documents and control measure shall include description of equipment deployed in the customer service center, physical environment security control, details of hardware and software, and the securities firm’s information and communication security, personal data risks and control measures with respect to the services available at the customer service center.
- In the event of expansion or contraction of the customer service center, prior to its use, a report containing the floor map and photographs of the venue shall be submitted to the responsible entity for recordation. Before the center is removed, a report containing the reason for the removal shall be submitted to the responsible entity for recordation.
- Retention of records and control measures for service statement
- The communications between the securities firm and client, including but not limited to telephone recordings, and chat records with the AI customer services, shall be retained for at least one year, except for those involving disputes or complaints which shall be retained until the disputes are resolved or complaints are settled.
- The securities firm shall disclose a statement describing the purpose of installation of the customer service center, scope of services and prohibited activities on its official website.
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Article 5
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When providing digital services pursuant to these Directions, the securities firm shall establish appropriate control measures and internal audit procedure in the corporate internal control system, including but not limited to:
- Business staff shall always act within the scope of services stated in these Directions when providing relevant services, and official and unofficial concurrent duties must be consistent with the Rules Governing Responsible Persons and Associated Persons of Securities Firms.
- Based on the services provided, evaluate potential information and communication security risks (e.g. physical and environment security, access control, network security management, and application of innovative technologies) and establish control measures.
- What personal information about client the securities firm may access and use (including the procedure of collection, processing and use) and evaluate potential personal data risks and establish control measures.
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Article 6
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These Directions shall be reported to the Financial Supervisory Committee, Republic of China (Taiwan) (FSC) and be announced and implemented upon approval of the FSC. Subsequent amendments thereto shall be effected in the same manner.
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