Search Results

Enforcement Letter

 
Organisation: Financial Supervisory Commission
Issue No.: Financial-Supervisory-Securities-Firms-1070302423 
Issue Date: 2018/02/09
Content:     Order of the Financial Supervisory Commission

    Issue date: 9 February 2018
    Issue No.: Financial-Supervisory-Securities-Firms-1070302423

  1. Article 5, paragraph 3, subparagraph 2 of the Regulations Governing the Issuance of Call (Put) Warrants by Issuers provides that a foreign issuer that applies to the FSC for accreditation as a qualified issuer of call (put) warrants must have a credit rating of a certain grade or higher issued by a credit rating institution recognized by the FSC. This means that the applicant's credit rating must meet the standards set out in Table 1.
  2. Article 8, subparagraph 3 of the Regulations Governing the Issuance of Call (Put) Warrants by Issuers provides that the underlying assets to which call (put) warrants are linked are limited to those listed on a foreign securities market designated by the FSC. These foreign securities markets are listed in Table 2.
  3. On the basis of Article 8, subparagraph 4 of the Regulations Governing the Issuance of Call (Put) Warrants by Issuers, the FSC hereby grants approval for any spot gold registered for OTC trading and any futures contracts, except for equity futures, listed on the Taiwan Futures Exchange Corporation to serve as the underlying asset of call (put) warrants.
  4. Article 15, subparagraph 2 of the Regulations Governing the Issuance of Call (Put) Warrants by Issuers provides, with respect to the securities exchange where offshore call (put) warrants are issued, that the sovereign rating of the country where the warrants are to be traded must have a credit rating of a certain grade or higher from a credit rating institution recognized by the FSC. This means that the country’s sovereign credit rating must meet the standards set out in Table 3.
  5. On the basis of Article 23-1 of the Regulations Governing the Issuance of Call (Put) Warrants by Issuers, the FSC hereby issues the Application Form for Accreditation as a Qualified Call (Put) Warrants Issuer, as set out in Table 4.
  6. This Order is effective from this day forward. The 13 July 2016 Order No. Financial-Supervisory-Securities-Firms-10500250095 of the FSC is repealed from this day forward.

    Official versions: Post on the public notice boards of the FSC and the Securities and Futures Bureau, FSC
    Copies (including attachments): Legal Affairs Committee, Executive Yuan; Financial Supervisory Commission (FSC Department of Legal Affairs and FSC Department of Information Management); FSC Financial Examination Bureau; Securities & Futures Institute, ROC; Taiwan Securities Association; Taiwan Stock Exchange Corporation; Taipei Exchange; Taiwan Depository & Clearing Corporation; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law