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Enforcement Letter

Organisation: Financial Supervisory Commission (FSC)
Issue No.: Financial-Supervisory-Securities-SITC-1060012978 
Issue Date: 2017/06/03
Content:     Order of the Financial Supervisory Commission (FSC)

    Issue date: 3 June 2017
    Issue no.: Financial-Supervisory-Securities-SITC-1060012978

  1. Under Article 23, paragraph 1, subparagraph 3 of the Regulations Governing Offshore Funds, any investment in securities in Mainland China by an offshore fund offered and sold in Taiwan shall be limited to securities listed on an exchange or on the China Interbank Bond Market, and the total amount of investment in the aforesaid securities may not exceed 10 percent of the net asset value of the offshore fund. However, this restriction does not apply to the following:
    1. An offshore exchange-traded fund that, with approval from the FSC, applies to the Taiwan Stock Exchange to be listed or traded on the exchange.
    2. An offshore fund institution that has applied to the FSC and obtained recognition under the Plan to Encourage Stronger Business Ties in Taiwan for Offshore Funds may apply the preferential measure under the Plan to Encourage Stronger Business Ties in Taiwan for Offshore Funds to relax the aforesaid limit on the total amount of investment to 30 percent.
  2. This Order is effective from this day forward. FSC Order No. Financial-Supervisory-Securities-IV-09700350642 of 14 July 2008 is repealed from this day forward.
    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; FSC (Department of Legal Affairs and Department of Information Management); FSC Financial Examination Bureau; Securities Investment Trust & Consulting Association of the R.O.C.; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law