| Article 1 |
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| Article 2 |
A futures commission merchant shall be a company limited by shares; provided, however, that this provision shall not apply to enterprises engaged concurrently [in futures business] with the approval of the competent authority in charge of its industry, or to foreign futures commission merchants operating with the approval of the Securities and Futures Commission of the Ministry of Finance ("the SFC"). |
| Article 3 |
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| Article 4 |
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| Article 5 |
Futures commission merchants shall adopt internal control systems in accordance with the SFC's Guidelines for Establishment of Internal Control Systems in Securities and Futures Service Enterprises and with regulations regarding standards for internal control systems as adopted by futures commission merchants adopted by the Taiwan Futures Exchange Corporation and other futures-related agencies. |
| Article 6 |
The business categories that may be operated by futures commission merchants shall be respectively approved by this Commission pursuant to the types of futures merchants and the provisions of this Law and these Rules, and such approved businesses shall be indicated on the business license; unless otherwise approved and indicated on the business license, no one shall operate such businesses. |
| Article 7 |
The minimum paid-in capital of futures commission merchants shall be as follows:
1. Futures brokerage merchants: 200 million New Taiwan Dollars.
2. Futures proprietary merchants: 400 million New Taiwan Dollars.
The minimum paid-in capital referred to in the preceding paragraph shall be fully subscribed by promoters at the time of incorporation. |
| Article 8 |
A futures commission merchant shall have following minimum number of associated persons:
1. Futures brokerage merchants: 3 persons.
2. Futures proprietary merchants: 3 persons.
3. Futures merchants with both brokerage and proprietary businesses: 5 persons.
Associated persons employed by a futures commission merchant shall have the qualifications as required by the Rules Governing the Responsible Persons and Associated Persons of Futures Commission Merchants. |
| Article 9 |
The promoters of a futures commission merchant shall, upon application for establishment approval, deposit with the banks designated by this Commission the following amounts:
1. Futures brokerage merchants: 50 million New Taiwan Dollars.
2. Futures proprietary merchants: 10 million New Taiwan Dollars
In case at the same time that it applies for establishment approval, the futures commission merchant also applies for the establishment of its branch office, the deposit amount in the preceding paragraph shall be increased by 10 million New Taiwan Dollars for each branch to be established.
The deposited amount referred in the preceding two paragraphs may be provided in the form of government bond or financial bond.
Upon the approval for the establishment of, and the completion of incorporation and the deposit of the operation bond, the deposited amount referred to in Paragraph 1 may be utilized; where the establishment approval is not granted or is revoked or invalidated, the deposit can be withdrawn upon notice from this Commission. |
| Article 10 |
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| Article 11 |
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| Article 12 |
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| Article 13 |
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| Article 14 |
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| Article 15 |
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| Article 16 |
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| Article 17 |
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| Article 18 |
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| Article 19 |
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| Article 20 |
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| Article 21 |
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| Article 22 |
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| Article 23 |
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| Article 24 |
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| Article 25 |
Domestic securities firms applying for concurrent operation of futures business shall allocate exclusively earmarked operating capital in the amount specified under Article 8 of these Rules, with the amount depending on the type of futures business to be operated concurrently.
Domestic securities firms may apply under any one of the following provisions to operate futures brokerage services concurrently, and to allocate exclusively earmarked operating capital:
1. A firm applying to concurrently operate domestic stock futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
2. A firm applying to concurrently operate domestic interest rate futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
3. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, and domestic interest rate futures contract brokerage services shall allocate 80 million New Taiwan Dollars as exclusively earmarked operating capital.
4. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, domestic interest rate futures contract brokerage services, and options contract brokerage services shall allocate 100 million New Taiwan Dollars as exclusively earmarked operating capital.
The paid-in capital of a domestic securities firm shall not be lower than the sum of the funds that must be allocated and earmarked exclusively as operating capital required to be allocated in connection with an application for concurrent operation of future business plus the minimum allocated operating capital requirement specified in Article 3 and Article 21 of the Standards Governing the Establishment of Securities Firms. Where the amount is insufficient, capitalization shall be increased. |
| Article 26 |
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| Article 27 |
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| Article 28 |
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| Article 29 |
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| Article 30 |
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| Article 31 |
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| Article 32 |
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| Article 33 |
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| Article 34 |
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| Article 35 |
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| Article 36 |
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| Article 37 |
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| Article 38 |
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| Article 39 |
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| Article 40 |
A foreign securities firm or financial institution applying for approval for its branch offices located in the territory of the ROC to concurrently operate futures business shall allocate exclusively earmarked operating capital in the amount specified under Article 8 of these Rules, with the amount depending on the type of futures business to be operated concurrently.
A foreign securities firm or financial institution may apply under any one of the following provisions to operate futures brokerage services concurrently, and to allocate exclusively earmarked operating capital:
1. A firm applying to concurrently operate domestic stock futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
2. A firm applying to concurrently operate domestic interest rate futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
3. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, and domestic interest rate futures contract brokerage services shall allocate 80 million New Taiwan Dollars as exclusively earmarked operating capital.
4. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, domestic interest rate futures contract brokerage services, and options contract brokerage services shall allocate 100 million New Taiwan Dollars as exclusively earmarked operating capital.
The funds allocated by a foreign securities firm or financial institution for operational use within ROC territory shall not be lower than the sum of the exclusively earmarked operating capital required to be allocated in connection with an application for concurrent operation of future business plus the minimum allocated operating capital requirement specified in Article 29, paragraph 1 of the Standards Governing the Establishment of Securities Firms. Where the amount is insufficient, capitalization shall be increased.A foreign securities firm or financial institution applying for approval for its branch offices located in the territory of the ROC to concurrently operate futures business shall allocate exclusively earmarked operating capital in the amount specified under Article 8 of these Rules, with the amount depending on the type of futures business to be operated concurrently.
A foreign securities firm or financial institution may apply under any one of the following provisions to operate futures brokerage services concurrently, and to allocate exclusively earmarked operating capital:
1. A firm applying to concurrently operate domestic stock futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
2. A firm applying to concurrently operate domestic interest rate futures along with options contract brokerage services shall allocate 50 million New Taiwan Dollars as exclusively earmarked operating capital.
3. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, and domestic interest rate futures contract brokerage services shall allocate 80 million New Taiwan Dollars as exclusively earmarked operating capital.
4. A firm applying to concurrently operate domestic stock futures, options contract brokerage services, domestic interest rate futures contract brokerage services, and options contract brokerage services shall allocate 100 million New Taiwan Dollars as exclusively earmarked operating capital.
The funds allocated by a foreign securities firm or financial institution for operational use within ROC territory shall not be lower than the sum of the exclusively earmarked operating capital required to be allocated in connection with an application for concurrent operation of future business plus the minimum allocated operating capital requirement specified in Article 29, paragraph 1 of the Standards Governing the Establishment of Securities Firms. Where the amount is insufficient, capitalization shall be increased. |
| Article 41 |
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| Article 42 |
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| Article 43 |
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| Article 44 |
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| Article 45 |
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| Article 46 |
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| Article 47 |
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| Article 48 |
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| Article 49 |
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| Article 50 |
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| Article 51 |
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