For investors who intend to engage in regular short selling or SBL short selling of borrowed securities of TWSE or TPEx listed shares or Taiwan depository receipts, if the closing price of the securities on the day falls by more than 3.5%, then on the following trading day the investors are not permitted to engage in regular short selling or SBL short selling of borrowed securities at a price lower than the closing price on the previous trading day. The price restrictions shall continue if the closing price of the next trading day still falls by more than 3.5%. However, this restriction does not apply to securities dealers and futures dealers who engage in short selling and sale of borrowed securities for the risk-hedging need of their business.