Promulgation of the “Operation Directions Governing Securities and Futures Businesses'' Application for the Approval of Business Trial”
The FSC promulgated the aforementioned Operation Directions on October 3, 2019 to encourage securities and futures businesses to keep on developing innovative financial products and services with pilot programs they may apply under the condition of appropriate risk control. These programs include (1) extension of approved business activities of securities and futures businesses; (2)“other business activity” that regulations authorize the competent authority may grant approvals; or (3) business activities related to the internal operations of securities and futures businesses which are still without any technical regulatory directions. These pilot programs may be the same as the innovation experiments that are approved by the Financial Technology Development and Innovative Experimentation Act. However, the business activities shall be applied through innovation experiments instead of pilot programs if they are involved in anything prohibited by laws and regulations. The aforementioned securities and futures businesses do not include Taiwan Stock Exchange, Taipei Exchange, Taiwan Futures Exchange and Taiwan Depository & Clearing Corporation.
Visitor： 413 Update： 2019-11-07