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Enforcement Letter

 
Organisation: Financial Supervisory Commission
Issue No.: Financial-Supervisory-Securities-Firms-1040050964 
Issue Date: 2016/01/12
Summary: Streamlining of Itemized Statement of Inventories of Foreign Currency Denominated Assets Filed by Custodians for Foreign Investors (Financial-Supervisory-Securities-Firms-1040050964)
Content:     Streamlining of Itemized Statement of Inventories of Foreign Currency Denominated Assets Filed by Custodians for Foreign Investors (Financial-Supervisory-Securities-Firms-1040050964)

    Order of the Financial Supervisory Commission (FSC)

    Issue date: 12 January 2016
    Issue number: Financial-Supervisory-Securities-Firms-1040050964

  1. Pursuant to Article 4, paragraph 1, subparagraph 6 of the Regulations Governing Investment in Securities by Overseas Chinese and Foreign Nationals, foreign currency denominated international bonds and foreign currency denominated securities investment trust funds publicly offered and privately placed by securities investment trust enterprises are approved as within the scope of securities in which offshore overseas Chinese and foreign nationals may invest.
  2. When offshore overseas Chinese or foreign nationals invest in foreign currency denominated international bonds under the preceding point, it shall be done in compliance with the relevant provisions of the Taipei Exchange Rules Governing Management of Foreign Currency Denominated International Bonds.
  3. When offshore overseas Chinese or foreign national subscribe to, receive transfer of, or transfer, a privately placed securities investment trust fund under Point 1, it shall be handled in accordance with relevant regulations including Article 11 of the Securities Investment Trust and Consulting Act, Article 52 of the Regulations Governing Securities Investment Trust Funds, and FSC Order No. Financial-Supervisory-Securities-SITC-0990042831 of 3 September 2010.
  4. The custodian institution, in accordance with Article 22 of the Regulations Governing Investment in Securities by Overseas Chinese and Foreign Nationals, with respect to foreign currency denominated products invested in by offshore overseas Chinese and foreign nationals under Point 1, shall keep itemized records of such investment on a daily basis, and on a monthly basis file with the FSC and the Foreign Exchange Department of the Central Bank an itemized statement of inventories of foreign currency denominated assets.
  5. This Order is effective from 1 April 2016. FSC Order No. Financial-Supervisory Securities-VIII-0950131021 of 4 August 2006, Financial-Supervisory Securities-VIII-0950003877 of 16 August 2006, and Financial-Supervisory-Securities-Firms-VIII-0950154093 of 15 December 2006 of the FSC are repealed from 1 April 2016.
    Originals: To be posted on the public notice boards of the FSC and the Securities and Futures Bureau, FSC
    Copies: Legal Affairs Committee, Executive Yuan; Central Bank of the Republic of China (Taiwan); FSC (Department of Legal Affairs and Department of Information Management); FSC Financial Examination Bureau; Taiwan Stock Exchange Corporation; Taipei Exchange; Taiwan Securities Association; Taiwan Depository & Clearing Corporation; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law