|
Article 8
|
Prior to filing an application with the FSC for approval to engage in brokerage or proprietary trading business in the stock exchange, the applicant shall receive the consent of computer linkage from the securities central depository enterprise and, according to the type of business which it operates, receive the consent of computer linkage from the stock exchange as required below:
- A securities dealer: the linkage of the host computer or the terminal.
- A securities broker: the linkage of the host computer or the terminal.
Prior to filing an application with the FSC for approval to engage in brokerage or proprietary trading business in the over-the-counter market by its head office and newly established branches, the applicant shall receive the consent of the computer linkage for its securities trading information from the TPEx.
|
|
Article 11
|
Securities firms shall establish a system of internal control referred to in Article 10, paragraph 1, subparagraph 4 in accordance with the Regulations Governing Establishment of Internal Control Systems by Service Enterprises in Securities and Futures Markets and the regulations for establishing internal control systems by securities firms jointly prescribed by the TWSE and other related institutions.
Securities firms operating security token proprietary trading business or equity crowdfunding business shall handle their internal control system in accordance with applicable rules adopted by the TPEx. A securities firm that operates only security token proprietary trading business or equity crowdfunding business is not subject to the provisions of the preceding paragraph.
|
|
Article 28
|
A foreign securities firm which intends to establish branch units within the territory of the Republic of China (ROC), shall meet all of the following qualifications:
- The applicant possesses sufficient international securities business experience and financial health in the business type being applied for.
- The applicant has not been sanctioned administratively by its home country's securities regulatory authorities within the most recent 2 years.
The sufficient international securities business experience referred to in subparagraph 1 of the preceding paragraph requires more than 3 years in the securities business and one of the following criteria:
- Verification of sufficient international securities business experience through the governing institution or other organization of the firm's mother nation, or through any other institution recognized by the FSC.
- Obtaining from a country other than the firm's mother nation a membership or trading qualification of the stock exchange.
- A place of business operation located outside of the firm's mother nation or business operations in overseas markets, such that it has received income from the same type of operations applied for.
The financial health referred to in paragraph 1, subparagraph 1 requires the most recent CPA audited and attested financial report to indicate that the net value of per share is not below its par value.
|