Environment
1.Regulation to the quantity registration of GHG emissions for certain enterprises
On 4 March 2025, the Ministry of Environment announced that enterprises in manufacturing, transportation, telecommunications, service, retail industry, educational institutions and hospitals, which meet the specified requirements, shall register the quantity of greenhouse gas (GHG) emissions for the prior year starting from 2026, which takes effect immediately.
Reported by: Stacy Lo / Ron Tsai
Energy
2.Draft Amendment to Implementation Regulations Governing Renewable Energy Certificates
On 3 March 2025, the Ministry of Economic Affairs announced the draft amendment to the Implementation Regulations Governing Renewable Energy Certificates. The key points are summarized as follows:
(1) The amendment provides that the inspection of power generation facilities may be carried out by inspection agencies accredited by the Bureau of Standards, Metrology, and Inspection of the Ministry of Economic Affairs.
(2) The amendment provides that, for power generation facilities that supply power through the Taipower Company transmission and distribution network (i.e., wheeling supply), if they meet certain conditions, a simplified procedure may be applied when applying for renewable energy certificates.
(3) Once the draft amendment is passed, it will come into effect on 1 June 2025.
Reported by: Alex Li
Financials
3.Amendment to Regulations Governing Banks Conducting Financial Products and Services for High-Asset Customers
On 3 March 2025, the Financial Supervisory Commission (FSC) announced the amendment to the “Regulations Governing Banks Conducting Financial Products and Services for High-Asset Customers.” We summarize below:
(1) For the adoption of electronic documents, electronic signatures, and digital signatures as referred to in the Regulations, in coordination with the amendment to the Electronic Signatures Act, the term “with the consent of the counterparty” has been deleted;
(2) To expand the scope of investors for offshore structured products or structured bonds issued by designated exchange banks (or their overseas branches) and offshore banking units;
(3) To remove the qualification requirements related to assets under management when banks apply to engage in high-asset customers wealth management services; and
(4) To remove the requirement to explain the implementation status of the commitments when applying for the renewal of high-asset customers wealth management services.
Reported by: Stacy Lo / Zoe Chen
Anti-Money Laundering
4.Ruling Related to Regulations Governing Anti-Money Laundering Registration of Enterprises or Persons Providing Virtual Asset Services
On 5 March 2025, the FSC issued a ruling specifying that the ratio of cold and hot wallet positions, as outlined in Paragraph 3, Article 26 of the “Regulations Governing Anti-Money Laundering Registration of Enterprises or Persons Providing Virtual Asset Services,” refers to the proportion of customer virtual assets stored in cold and hot wallets, respectively, relative to the total market value of the customer’s virtual assets. Additionally, the ruling sets out the restrictions on the proportion of customer virtual assets stored in cold and hot wallets, depending on whether the virtual asset custodian complies with the international information security management standards outlined in the ruling.
Reported by: Stacy Lo / Eva Chiu
Public Company
5.Draft Amendment to Regulations Governing the Use of Proxies for Attendance at Shareholder Meetings of Public Companies
On 6 March 2025, the FSC announced the draft amendment to articles 23-3 and 24 of the “Regulations Governing the Use of Proxies for Attendance at Shareholder Meetings of Public Companies,” excluding the signature and seal of written documents related to the proxy solicitation and non-solicitation from applying the electronic signatures which shall take effect on 14 May 2025.
Reported by: Mike Lu / Joe Liao
Securities
6.Amendments to Certain Provisions of Regulations Governing Advertising, Solicitation, and Business Promotion Activities by Members and Related Internal Control Systems
On 5 March 2025, the Taiwan Securities Association (TSA) issued an official letter to amend the Regulations Governing Advertising, Solicitation, and Business Promotion Activities by Members and related internal control systems. We summarize below:
(1) To add that advertisements for financing services shall avoid encouraging excessive credit expansion among investors;
(2) To add provisions for collaborations with influencers, including verification and management mechanisms, mandatory provisions in agreements with influencers, and ensuring that advertising agencies working with influencers also comply with relevant provisions; and
(3) To add additional prohibitions on improper conduct, including restrictions on public promotions or statements that violate relevant laws and regulations, and prohibitions on certain software offerings by TSA members. If any software is provided, relevant internal control measures shall be established.
Reported by: Jeffrey Liu / Jason Su
SICE/SITEs
7.Practical Guidelines for Opposite Transactions
On 10 March 2025, the Securities Investment Trust and Consulting Association (SITCA) issued the Practical Guidelines for Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises Managing Securities Investment Trust Fund Assets and Conducting Discretionary Investment Business on Simultaneous or Same-Day Opposite Transactions (Practical Guidelines). The Practical Guidelines aim to assist securities investment trust enterprises in managing securities investment trust fund assets and securities investment trust enterprises and securities investment consulting enterprises in conducting discretionary investment business when making opposite investment decisions (opposite transactions) on the same stock or equity-like bonds simultaneously or on the same day. We summarize below:
(1) The guidelines are for reference only.
(2) It is in principle not permitted to conduct opposite transactions, but for special types of funds or circumstances permitted by laws and regulations or with special regulatory approval, the relevant contracts may specify the conditions for conducting opposite transactions or situations where such transactions may occur as the basis for executing opposite transactions
(3) A warning and control mechanism shall be established to facilitate the detection of opposite transactions.
(4) Procedures for conducting opposite transactions shall be established.
(5) List of exceptions to control measures for opposite transactions.
Reported by: Jeffrey Liu / Eden Hsieh
Securities
8.Draft Amendment to Regulations Governing Securities Firms Accepting Orders to Trade Foreign Securities
On 11 March 2025, the FSC announced the draft amendment to the “Regulations Governing Securities Firms Accepting Orders to Trade Foreign Securities.” We summarize below:
(1) To remove the restriction on the age of 70 years or below for non-professional investors as the target audience for recommendations of foreign securities by any securities firm that accepts trading orders for foreign securities
(2) To stipulate that securities firms accepting orders to purchase foreign securities from high net worth juristic person investors and high-asset juristic person clients may deposit such securities with a foreign custodian designated by the such person.
Reported by: Jeffrey Liu / Eva Chiu
Insurance
9.Draft Amendment to Regulations Governing Offshore Insurance Branches
On 11 March 2025, the FSC announced the draft amendment to Articles 9 and 15 of the “Regulations Governing Offshore Insurance Branches.” We summarize below:
(1) To add Singapore as a reference country for the reserve provisioning of offshore insurance branches.
(2) To add the required application documents and procedures for offshore insurance branches engaging in specific derivatives transactions.
Reported by: David Tsai / Joe Liao
| Editors: Mike Lu (Partner) Stacy Lo (Partner) Jeffrey Liu (Partner) Kang-Shen Liu (Partner) David Tsai (Partner) Angela Lin (Partner) Paul Hsu (Partner) Alex Li (Partner) | Counselors: Echo Yeh Sue Su Jolene Wang (Lexcel Partners IP Firm) |
