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Article 4
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A principal other than a professional institutional investor that is trading in call (put) warrants for the first time shall sign in advance a risk disclosure statement before a securities firm may accept orders from it.
The TWSE shall prescribe the content that must be included in the risk disclosure statement.
"Professional institutional investor" means a foreign or domestic bank, insurance company, bills finance company, securities firm, fund management company, government investment institution, government fund, pension fund, mutual fund, unit trust, securities investment trust company, securities investment consulting company, trust enterprise, futures commission merchant, futures service enterprise, or any other institutions approved by the competent authority.
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