• Font Size:
  • S
  • M
  • L

Article NO. Content


Regulations Governing the Administration of Credit Rating Agencies  CH

Amended Date: 2015.12.31 
Article 13     A credit rating agency shall report any of the following circumstances to the FSC for recordation within ten (10) days after its occurrence:
  1. Any resolution made by a shareholders meeting or board of directors meeting.
  2. A change in shareholding of any shareholders holding more than ten (10) percent of the total outstanding shares.
  3. A change of directors, supervisor(s), managerial officers, or associated persons;
  4. A change of its principal business place.
  5. A reorganization, liquidation, bankruptcy, or a major lawsuit.
  6. Other items for which the FSC requires reporting.
    Where an internationally recognized credit rating agency receives approval to establish a branch office in the Republic of China pursuant to the provisions of Article 5, it may be exempted from subparagraphs 1 and 2 of the preceding paragraph, and from the provisions of subparagraph 3 that require reporting a change of directors or supervisor(s). Where any of the following events occur with respect to a branch office's head office, the branch office shall of its own accord inform the FSC of that fact within ten (10) days, presenting a description of the facts and other related information:
  1. The company is dissolved or suspends its business activities.
  2. A reorganization, liquidation, or bankruptcy occurs.
  3. A major violation of law occurs, or the competent authority in the head office's country revokes its business permission.
  4. A merger takes place, the company transfers all or a significant portion of its assets or business, or receives the transfer of such items.
  5. A major lawsuit occurs.
  6. A major change in operating policy occurs.
  7. The governing laws and regulations in the head office's home country change significantly.
  8. Other major events occur that may affect the company's ability to continue business operations.
    Where any of the personnel changes listed in subparagraph 3 of paragraph 1 occurs, the company employing such personnel cannot be exempted from responsibility for their actions until it has properly carried out procedures for change of personnel.