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Article NO. Content

Title:

Operating Rules for Securities Firms Handling Non-Restricted Purpose Loan  CH

Amended Date: 2019.09.06 
Categories: Securities Exchange Market > Borrowing of Money
Article 5     To apply for conducting non-restricted purpose loan business, a securities firm shall fill out an application form and submit it together with the related documents to TWSE. After the TWSE has reviewed an application and found the applicant qualified and in compliance with the applicable provisions of these Operating Rules, it shall forward the application to the competent authority for approval.
    After a securities firm has been approved by the competent authority to conduct non-restricted purpose loan business, a securities firm shall apply for change of registration of securities business scope with the TWSE before beginning the non-restricted purpose loan business; and the personnel handling non-restricted purpose loan shall possess the qualifications prescribed under the Regulations Governing Responsible Persons and Associated Persons of Securities Firms.
    After a securities firm has been approved by the competent authority to conduct non-restricted purpose loans, if its regulatory capital adequacy ratio falls below 150% for 2 consecutive months, it shall suspend such lending business, which may be resumed only after the securities firm is in compliance with regulations for 3 consecutive months and is approved by the competent authority; the same requirement shall apply to a securities firm that has already received approval to conduct such non-restricted purpose loan but has not yet commenced it.