Regulatory Alerts2003-02-26
Added · Updated
Regulations Governing Foreign Exchange Brokers
The Central Bank of the Republic of China (Taiwan) establishes requirements for foreign exchange brokers, including a minimum registered capital of New Taiwan dollars 100 million and investor holding ceilings of 10% for financial institutions and 20% for other investors. The regulations mandate that at least half of the dealers be senior dealers with specific experience, require monthly loss reserves, and impose daily and monthly reporting obligations to the Bank. The Bank retains authority to audit brokers, enforce administrative penalties, and revoke licenses for violations such as failure to commence operations or submission of false information.
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