| Title： |
Regulations Governing The Use Of Trading Information(2005.07.29) |
| Date： |
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Article 9
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Foreign information companies, news media institutions and Qualified Foreign Institutional Investors (QFIIs) applying to use the trading information shall submit the following materials:
1. A letter of application;
2. The original of its certificate of incorporation and a statement of its scope of business duly authenticated by an overseas ROC representative office;
3. The original of the power of attorney or letter appointing its local agent or representative to handle matters regarding transmission of trading information to an overseas area;
4. A photocopy of the national identification card, alien resident certificate, or company registration of its local agent or representative.
Foreign information companies, news media institutions and QFIIs applying to obtain trading information through indirect connection for transmission to an overseas area shall submit the following documents:
1. A letter of application;
2. The original of its certificate of incorporation and a statement of its scope of business duly authenticated by an overseas ROC representative office;
3. The original document evidencing that it will receive trading information through an indirect connection.
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Article 14
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Except where otherwise approved by the TSEC, a user applicant shall not lease, sell, or transfer the TSEC's trading information to any other person, nor relay the information in any manner to any other place.
Transmission standards for any transmission by user applicants not made over leased data lines or dial-up lines shall be separately prescribed by the TSEC.
User applicants shall not use any trading information other than that provided pursuant to the contract for use of trading information entered into with the TSEC.
Securities firms and futures commission merchants shall not have the TSEC's trading information relayed to any place other than their business premises.
Trading information provided by a web site operated by a securities firm shall be made in the name of a user applicant that has been approved by the TSEC for transmitting trading information through the Internet. Notwithstanding the above, however, a securities firm may, with the permission of the TSEC, provide trading information under its own name to the investors who have accounts with it.
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Article 18
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In order to administer the transmission and use of the trading information, the TSEC may appoint a representative or a certified public accountant to examine and audit the finances or operations and accounting books and records of a user applicant that are related to trading information. When deemed necessary, the TSEC may inspect the sites where the equipment is used and the status of its use; user applicants may not evade or refuse such inspections. When further understanding of a user applicant's revenue status is required due to a change in the method of calculating fees, the TSEC may consult the auditing reports issued by the user applicant's certified public accountant.
Where a user applicant calculates fees for the use of trading information based on the quantity of equipment or indexing time, the fees shall be listed independently on its accounting books with appropriate annotations.
Two duplicates of the user applicant's annual financial report duly audited and attested by a certified public accountant shall be submitted to the TSEC not later than June 30 of each year.
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Article 31
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Where a user applicant has delayed payment of fees or royalties for a period of one month or longer, the TSEC shall be entitled to levy a penalty for delay in an amount equal to one percent of the payment in arrears, and to notify the user applicant to make payment within a given period of time.
When a user applicant neglects to pay or understates the amount of fees or royalties , then in addition to payment of the deficit amount by the user applicant, the TSEC may impose a penalty in an amount not to exceed four times the amount of the deficit.
When a user applicant, on its own and without the permission of the TSEC, augments or alters the method of transmission or the scope of the trading information, the TSEC may notify it to make improvement or correction within a given period, and apply the provisions of paragraph 2 mutatis mutandis.
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Article 35
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Given any of the following circumstances, the TSEC may impose on a user applicant a fine for breach in the amount of NT$500,000, or terminate the contract:
1. Unlawful conduct arising out of intentional acts or gross negligence, resulting in an error in the trading information transmitted, in violation of Article 12, paragraph 1, and materially influencing trading order in the securities market.
2. Violation of Article 12, paragraph 3 five times or more within a single year.
3. Serious violation of Article 14, paragraphs 1, 4, or 5.
4. Failure to pay fees or royalties or penalty for breach of agreement, followed by failure to make payment more than two months after having received notification from the TSEC to make payment within a given period.
5. Violation of securities-related acts or regulations or the provisions of the TSEC, with a material adverse impact on the securities market or the administration of trading information by the TSEC.
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