Important Measures
Introduction of an order based on Paragraph 1, Article 24 of the Regulations Governing the Public Offering of Securities Investment Trust Funds by Securities Investment Trust Enterprises
2018-06-12
On May 10, 2018, the FSC approved the new regulation according to Paragraph 1, Article 24 of the Regulations Governing the Public Offering of Securities Investment Trust Funds by Securities Investment Trust Enterprises. The new regulation is for promoting diversified business operations for securities investment consulting enterprises (“SICE”). It allows an SICE that acts as a distributor for a securities investment trust fund and handles receipt/payment of funds through a bank account designated by the centralized securities depository enterprise to subscribe investment trust funds in its own name on behalf of investors.
A securities investment consulting enterprise shall obtain investors’ consent and sign an agreement on related information transmission and fund collection and payment with Taiwan Depository and Clearing Corporation before it engages in the aforementioned business activity. It shall also create and properly implement a sound internal management and risk control mechanism.
A securities investment consulting enterprise shall obtain investors’ consent and sign an agreement on related information transmission and fund collection and payment with Taiwan Depository and Clearing Corporation before it engages in the aforementioned business activity. It shall also create and properly implement a sound internal management and risk control mechanism.
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- Update: 2018-06-12