|
Article 5
|
A securities firm that applies for listing of ETNs to be issued to the competent authority shall pay the examination fee of NT$100,000 to the TWSE, complete the "application form for issuance of (additional) ETNs by securities firm" and the "application form for listing of ETNs", published by the competent authority, stating the particulars to be specified, and the enclosed documents to the general mail office of the TWSE for signing for receipt by the office staff. The application will then be forwarded to the responsible department for processing. The responsible staff, after accepting the application, shall perform document review in accordance with this article. Upon acceptance by the TWSE, the relevant review procedure, key issues for review, and deadline to complete review are as follows:
- Check documents submitted against the list of enclosures to the application form to see if all listed documents have been provided, and complete the "Inspection list to application form for listing of ETNs" (Schedule 4). If it is found not all documents are submitted, specify a certain period of time for submitting the missing documents. If applicant fails to provide the requested documents, a written reply, upon authorization, will be sent to the securities firm, indicating no approval letter for listing will be issued and its application will be rejected, and the competent authority will be notified of the rejection. The paid examination fee is not refundable.
- Key issues regarding the securities firm's qualification requirements to be examined:
- If the requirements under Article 4 of the Issuance Regulations are met.
- The securities firm has obtained the TWSE's approval letter for qualifications of underlying indexes, and the approval letter remains valid.
- Others.
- Key issues regarding ETNs to be examined:
- If the requirements under Article 9 of the Review Rules are met.
- If there is a circumstance under Article 11 of the Review Rules.
- Review its issuance plan to see if the items and information therein are in compliance with the requirements under Article 10 of the Review Rules.
- Review its prospectus and summary prospectus to see if the format and information therein are in compliance with the template prospectus for ETNs.
- Review the lawyer's opinion and the information in the schedules enclosed therewith and determine if he or she has carefully reviewed and evaluated the securities firm's issuance plan, prospectus and summary prospectus, the securities firm's various statements, and whether the securities firm has the circumstances under Article 11 of the Review Rules, and if he or she has provided the opinion that these documents are valid and the securities firm has complied with the applicable regulations, and complete the "Inspection list to lawyer's opinion on listings of ETNs" (Schedule 5).
- In case of ETNs that track the performance of underlying indexes on foreign exchange, if the Central Bank of the Republic of China has been notified of the application and provided with application form and documents.
- Others.
- After accepting the application for issuance and listing of ENTs by a securities firm, the responsible staff of the TWSE shall within 12 business days check the particulars and information contained in the application form and enclosed documents are complete, and complete the "Review of application for issuance of (additional) ETNs" and "Inspection list to listing of ETNs" (Schedule 6), published by the competent authority. If it is found the particulars or information are incomplete, the applicant shall be asked to provide the requested information within a specified period of time. If it fails to provide the requested information by the deadline or the additional information provided fails to meet the requirements, the securities firm will receive a notice indicating no approval letter will be issued, subject to approval, and its application will be rejected, and the competent authority will be notified of the rejection. In a special circumstance, however, where a securities firm needs to provide an additional explanation or submit other documents, the review period may be extended, subject to approval.
The TWSE will review the application for issuance of ETNs in the preceding paragraph in accordance with the applicable regulations. If the review indicates the application has met the listing requirements, the TWSE will issue an approval letter for listing, including its review opinion, and the letter will be forwarded to the competent authority.
The approval letter for listing in the preceding paragraph shall state that the "TWSE has approved its application for listing of ETNs to be issued on the condition that its application for issuance of ENTs has been approved by the competent authority, and the ETNs it has issued continue to meet the requirements in Article 12 of the Taiwan Stock Exchange Corporation Rules Governing Review of Listing of Exchange Traded Notes".
|