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Enforcement Letter

 
Organisation: Financial Supervisory Commission
Issue No.: Financial-Supervisory-Securities-Firms-1050029770 
Issue Date: 2016/08/12
Content:     Order of the Financial Supervisory Commission (FSC)

    Issue date: 12 August 2016
    Issue no.: Financial-Supervisory-Securities-Firms-1050029770

    An OSU may receive funds or make payments on behalf of a customer under the following circumstances by using the segregated foreign exchange deposit account of the account custody business under Article 22-4, paragraph 1, subparagraph 5 of the Offshore Banking Act: (1) when an OSU conducts foreign currency derivatives business (including foreign exchange currency derivatives business between foreign currencies in connection with securities business) approved by the competent authority under Article 22-4, paragraph 1, subparagraph 7 of the Offshore Banking Act; (2) when an OSU trades across foreign currencies on behalf of a customer in connection with securities business; (3) when an OSU engages with a customer in spot foreign exchange trading business between foreign currencies in connection with securities business.

    Originals: To be posted on the public notice boards of the FSC and the Securities and Futures Bureau of the FSC
    Copies: Legal Affairs Committee, Executive Yuan; Central Bank; FSC (Department of Legal Affairs; Department of Information Management); Financial Examination Bureau of the FSC; Taiwan Stock Exchange Corporation; Taipei Exchange; Taiwan Depository & Clearing Corporation; Taiwan Securities Association; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law