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Article 5
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To apply to conduct business relating to custody and investment of funds on behalf of customers, a securities firm shall fill out an application form and submit it to the TWSE, together with other relevant supporting documentation. When the TWSE has reviewed the application and found it in compliance with relevant eligibility conditions as well as the provisions of these Rules, the TWSE shall forward the application to the competent authority for final approval. Upon approval by the competent authority to conduct business relating to custody and investment of funds on behalf of customers, the securities firm shall, at least three business days before commencing such business, submit the following documents by mail to the TWSE for review of compliance with eligibility conditions and for subsequent forwarding to the competent authority for recordation:
- A photocopy of the approval document of the competent authority.
- Documentation containing credit rating and regulatory capital adequacy ratio information, current as of the commencement date and covering the period from after the approval of the competent authority up to the reported commencement date.
- Documentary proof of the cash management account established at a bank and documentation indicating the credit rating of the bank.
The securities firm under the preceding paragraph that has received the approval from the competent authority to conduct business relating to custody and investment of funds on behalf of customers may not commence such business unless an amendment to its securities business activity information has been registered with the TWSE. The associated persons of the securities firm performing services of custody and investment of funds on behalf of customers shall possess the qualifications specified in the Regulations Governing Responsible Persons and Associated Persons of Securities Firms as adopted by the competent authority.
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