Dear friends,
On August 3, 2023, the Financial Supervisory Commission (FSC) announced the draft requirements to allow the following business scope under the “other relevant business permitted by the FSC as stipulated in Article 3.3.3 and 4.3.3 of the Securities Investment Trust and Consulting Act
1.Accepting client’s engagement for consulting services with decision-making power;
2.Accepting client’s engagement for consulting services with decision-making power, and executing transactions on its behalf; and
3.Accepting client’s engagement to provide the securities investment analysis and advice, and executing transactions on its behalf.
To conduct the above-mentioned business, the Securities Investment Trust Enterprises (SITE) and Securities Investment Consulting Enterprises (SICE) shall have obtained the discretionary investment management license (DIM License), and have established operating principles for effectively preventing conflicts of interest in their internal control system. The said businesses may be conducted only after an approval from the FSC is obtained. Those who have already conducted the business before the issuance of the ruling shall apply with the FSC by submitting relevant documents for an approval within 6 months. A post report must be made before the fifth business day of each month after the approval is obtained.
We will keep you posted of any development.
Mike Lu / Jeffrey Liu / Amy Su
