To coordinate with Article 47-3 of the “Banking Act” (which provides as follows: “A financial information service business which intends to engage in an inter-institutional funds transfer clearing services shall obtain the Competent Authority‘s approval to do so”), and to coordinate also with the promulgation of the “Telecommunications Management Act,” the FSC on 28 September 2020 amended Articles 2, 18, and 19 of the “Regulations Governing Approval and Administration of Financial Information Service Enterprises Engaging in Inter-bank Funds Transfer and Settlement” and changed the name to “Regulations Governing Approval and Administration of Financial Information Service Enterprises Engaging in Inter-financial institution Funds Transfer and Settlement.” Key points include the following: (1) To coordinate with the renaming of the Regulations, the term “financial information service enterprise engaging in interbank funds transfer and settlement” has been changed to “financial information service enterprise engaging in inter-financial institution funds transfer and settlement”; and (2) a financial information service enterprise does not actually provide value-added network services (i.e., it does not provide value-added services, nor is it a type II telecommunications enterprise as referred to in the “Telecommunications Act”), therefore Article 18 has been amended by deleting provisions stating that “an entity intending to establish an interbank financial information network enterprise shall first apply to the Ministry of Transportation and Communications for and obtain an operator license” and that such an entity must “apply to the Competent Authority for a business license by submitting a photocopy of the aforementioned license.”