Order on the types of businesses approved by the competent authority under Article 3, Paragraph 3, Subparagraph 3 and Article 4, Paragraph 3, Subparagraph 3 of the Securities Investment Trust and Consulting Act

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Order on the types of businesses approved by the competent authority under Article 3, Paragraph 3, Subparagraph 3 and Article 4, Paragraph 3, Subparagraph 3 of the Securities Investment Trust and Consulting Act. (Ref. No. Jin-Guan-Zheng-Tou-Zi No. 1150383720)

2026-10-13

Financial Supervisory Commission Order

Issuance Date: October 13, 2026
Issuance No.: Jin-Guan-Zheng-Tou-Zi No. 1150383720

1. In accordance with Article 3, Paragraph 3, Subparagraph 3 and Article 4, Paragraph 3, Subparagraph 3 of the Securities Investment Trust and Consulting Act, Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises (excluding those concurrently operating other businesses) are approved to conduct the following businesses:
   (1) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises may accept appointments from foreign asset management institutions to conduct sales and consulting for their offshore fund products that are "not of the nature of securities investment trust funds" to the following professional institutional investors and high-net-worth clients in Taiwan. The total number of high-net-worth clients for each "offshore fund product not of the nature of securities investment trust funds" shall not exceed ninety-nine, and shall not involve New Taiwan Dollar foreign exchange matters:

2. "Professional institutional investors" refers to professional institutional investors that meet the requirements of Article 4 of the Financial Consumer Protection Act.

3. "High-net-worth clients" refers to legal entities or natural persons who simultaneously meet the following conditions and apply in writing to a Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise to be recognized as high-net-worth clients:
   (1) Provide proof of financial capability with an investable asset net value and insurance product value equivalent to NT$100 million or more; or have an investable asset net value of NT$30 million or more with the said Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise, and provide a declaration of financial capability holding an investable asset net value and insurance product value equivalent to NT$100 million or more. (2) The Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise confirms that the natural person or the person authorized by the legal entity to conduct transactions possesses sufficient professional knowledge of financial products and trading experience, and confirms that the natural person or legal entity possesses sufficient risk-bearing capacity. (3) The client, after fully understanding the responsibilities that a Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise may be exempted from when providing financial products or services to high-net-worth clients and related laws concerning professional investors (natural persons or legal entities), agrees to sign up as a high-net-worth client.

4. "Investable assets" as referred to in the preceding subparagraph means financial assets such as deposits, domestic and foreign marketable securities or short-term bills (including bonds or short-term bills purchased through conditional transactions), structured products, gold passbooks, etc. "Net value" refers to the client's investment principal minus the amount of secured financing or pledged borrowing. If financial assets have a public market price or reference price, their value is measured by their market price or reference price minus the amount of secured financing or pledged borrowing. "Insurance product value" refers to the policy value of investment-linked insurance or the policy reserve of non-investment-linked life insurance.

5. Natural persons or legal entities who already possess the status of professional investors, meet the conditions in subparagraph 2(1), and are confirmed by a Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise to possess sufficient risk-bearing capacity, may apply in writing to a Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise to be recognized as high-net-worth clients.

6. Regarding the conditions that high-net-worth clients must meet, Securities Investment Trust Enterprises or Securities Investment Consulting Enterprises shall exercise due diligence, obtain reasonable and credible supporting evidence from clients, and approve them in accordance with the Know Your Customer (KYC) procedures and client acceptance standards established by the Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise.

7. Natural persons or legal entities who meet the high-net-worth client status as per subparagraph 2 or 4 shall be deemed to possess the status of professional investors as defined by the business regulations related to various financial products and services offered by Securities Investment Trust Enterprises or Securities Investment Consulting Enterprises.

8. Securities Investment Trust Enterprises or Securities Investment Consulting Enterprises shall conduct a review at least once every two years in accordance with their established review procedures to verify that clients continue to meet the qualification conditions for high-net-worth clients. Securities Investment Trust Enterprises or Securities Investment Consulting Enterprises shall regularly assess the investable asset net value of clients with the said Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise. If it is found that a client's investable asset net value does not meet the financial standards required for high-net-worth clients, written confirmation from the client shall be obtained as to whether to continue adding financial products or services applicable to high-net-worth clients.

9. High-net-worth clients may apply in writing to a Securities Investment Trust Enterprise or Securities Investment Consulting Enterprise to terminate their high-net-worth client status.
   (2) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises may accept appointments from foreign asset management institutions to provide the following services to Offshore Banking Units (hereinafter referred to as OBU) of banks or Offshore Securities Units (hereinafter referred to as OSU) of securities firms, regarding the foreign asset management institutions' offshore fund products, provided that it does not involve clients of OBU or OSU operators and does not involve New Taiwan Dollar foreign exchange matters:

10. Proactively contact operators and, based on the foreign asset management institution's product content, market trends, market demand, and the operator's business needs, provide operators with relevant fund product sales strategies, product recommendations and explanations, and assist with fund product listing and internal training.

11. Proactively contact and introduce foreign asset management institutions to operators, and accompany them in meetings and visits to operators when foreign asset management institutions come to Taiwan or via video conference; and collaborate with foreign asset management institutions to organize seminars for operators, providing market trends, investment strategies, product introductions, and explanations.

12. Assist in receiving, processing, and verifying transaction orders for operators' relevant fund products and other related administrative matters.

13. After the relevant fund products are listed, proactively provide fund product information, internal training, and consulting services based on the foreign asset management institution's operations and the operator's needs.

14. Provide translation services, including submission and translation of product, transaction, and other data, and real-time communication interpretation.
    (3) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises may accept appointments from foreign asset management institutions to provide the services listed in the preceding subparagraph to banks or securities firms, regarding the foreign asset management institutions' offshore fund products that are "not of the nature of securities investment trust funds", provided that it does not involve clients of banks or securities firms and does not involve New Taiwan Dollar foreign exchange matters, and a mandate contract must be signed with the foreign asset management institution before providing the services.

15. Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises conducting the businesses in the preceding point shall comply with the following matters:
    (1) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises shall meet the qualification conditions for master agents as stipulated in Article 9 of the Regulations Governing Offshore Funds.
    (2) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises conducting the business in subparagraph 1 of the preceding point shall sign a mandate contract with the foreign asset management institution or its designated institution regarding the entrusted matters related to specific offshore fund products, and the contract shall specify that no other institution in Taiwan may be entrusted to handle such matters. (3) Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises conducting the business in subparagraph 3 of the preceding point shall confirm that the bank or securities firm is an operator that meets the Commission's regulations for entrusted investment or trading of offshore funds not of the nature of securities investment trust funds through trust or entrusted trading methods.

16. Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises applying for the first time to conduct the businesses in each subparagraph of point 1 shall submit the following documents to the Commission for approval. Subsequent changes to approved matters do not require re-application for approval and shall be handled in accordance with point 4:
    (1) Proof of qualification conditions for master agents of offshore funds as stipulated in Article 9 of the Regulations Governing Offshore Funds.
    (2) Relevant proof of the foreign asset management institution's acquisition of an asset management license or qualification in its place of registration.
    (3) Internal control systems for engaging in relevant businesses, including but not limited to the selection and contracting procedures for foreign asset management institutions and products, thorough Know Your Customer (KYC), product evaluation and review, business solicitation, consulting and sales, information confirmation and segregation, transaction instructions, payment collection and statement delivery, training (including internal staff training and operating principles for providing training to OBU, OSU, banks, or securities firms), dispute resolution, and norms for executing other service items. (4) For those applying for the businesses in subparagraphs 2 and 3 of point 1, a list of OBU, OSU, banks, or securities firms to be served, as well as the service items and content, must also be provided.

17. Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises approved to engage in the businesses in point 1, and if there are changes to approved matters, shall report the data in accordance with the regulations of the Securities Investment Trust and Consulting Association of the Republic of China (hereinafter referred to as the Association) by the tenth business day of each month; furthermore, those approved to engage in the business in subparagraph 1 of point 1 shall, within five days from the completion date of fund payment, submit an offshore fund investment status report (format as attached) for offshore funds not of the nature of securities investment trust funds to the Association.

18. Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises conducting the businesses in point 1 shall not engage in general advertising or public solicitation.

19. Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises that have already conducted the businesses in point 1 before the effective date of this Order do not need to re-apply to the Commission for approval. Subsequent changes to approved matters shall be handled in accordance with point 4.

20. This Order shall take effect from the date of its issuance; the Commission's Order Jin-Guan-Zheng-Tou-Zi No. 1130384919 of October 25, 2024, is abolished from the date of its issuance.

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Update Date: 2026-10-13

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