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Article 2
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If an offshore securities branch has any of the following circumstances, it shall report the matter to the Financial Supervisory Commission (FSC) and notify the Central Bank of the Republic of China (Taiwan) (CBC):
- Commencement of business.
- Material change in business plan.
- Occurrence of, or foreseeable, material loss.
- Occurrence of material litigation.
- Any violation of the Act or of any order issued by the competent authority pursuant to the Act.
The matters set forth in subparagraphs 1 and 2 of the preceding paragraph shall be reported before the fact; the matters set forth in subparagraphs 3 to 5 shall be reported within 5 business days from the day the matter is known or the event occurs.
The term "business day," as used in these Regulations, means a trading day on the domestic securities markets.
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