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A customer engaging a participating dealer for the first time to conduct the creation or redemption of the following beneficial certificates shall sign a risk disclosure statement before the participating dealer may accept orders from the customer:
- beneficial certificates of leveraged or inverse securities investment ETFs
- beneficial certificates of futures ETFs
- beneficial certificates of ETFs traded in foreign currency
- beneficial certificates of non-investment grade bonds ETFs
- beneficial certificates deemed necessary by the TWSE
The risk disclosure statement may be waived in the event of privately placed securities investment trust funds managed by professional institutional investors or SITEs, futures trust funds offered by futures trust enterprises to persons with prescribed qualifications, discretionary investment accounts managed by SITEs, securities investment consulting enterprises or securities brokers concurrently operating securities investment consulting enterprises, and discretionary investment accounts managed by managed futures enterprises. The particulars to be included in the risk disclosure statement mentioned in the first paragraph shall be separately prescribed by the TWSE.
A customer engaging a participating dealer for the first time to conduct the creation or redemption of beneficial certificates of leveraged or inverse securities investment ETFs and beneficial certificates of leveraged or inverse futures ETFs shall meet any of the following conditions:
- The customer has opened a margin account.
- The customer has had at least 10 trading orders for call (put) warrants executed within the most recent one year.
- The customer has had at least 10 trading orders of futures trading contracts listed on the Taiwan Futures Exchange executed within the most recent one year.
A customer engaging a participating dealer for the first time to conduct the creation or redemption of beneficial certificates of leveraged or inverse securities investment ETFs shall complete a checklist of beneficial certificates of leveraged or inverse securities investment ETFs for the customer to read carefully and sign.
The aforementioned checklist will be created by the TWSE.
Professional investors that conform to the Regulations Governing Offshore Structured Products, privately placed securities investment trust funds managed by professional institutional investors or SITEs, futures trust funds offered by futures trust enterprises to persons with prescribed qualifications, discretionary investment accounts managed by SITEs, securities investment consulting enterprises or securities brokers concurrently operating a securities investment consulting enterprise, or discretionary investment accounts managed by managed future enterprises are not governed by the preceding paragraph.
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