| Article 25 |
A futures commission merchant shall not open an account for any of the following persons:
1. anyone under the age of 20;
2. anyone who has been adjudicated bankrupt and whose rights have not been reinstated;
3. anyone under a judgment of interdiction that has not been revoked;
4. anyone who opens an account on behalf of a juristic person but fails to present the documents issued by such juristic person authorizing the opening of the account;
5. an overseas Chinese or foreign national seeking to open an account who is unable to furnish a certificate evidencing registration with the Taiwan Stock Exchange Corporation ("TSEC") or the TAIFEX;
6. an overseas Chinese or foreign national who has entered into a contract with a custodian institution and the content of the contract does not comply with the requirements of the TAIFEX;
7. the staff and employees of the competent authority for the futures industry, the TAIFEX, a futures clearing house, or the Federation of Futures Industry Associations;
8. anyone who has breached a futures trading contract or a securities transaction contract within the last five years and the case remains unclosed; or
9. anyone who has been found guilty by a judicial authority of a criminal violation of futures trading acts and regulations or securities exchange acts and regulations, and such judgment has become final and unappealable within the last five years.
In the event that any of the descriptions set forth in the preceding paragraph applies to a futures trader who has already opened an account, the futures commission merchant shall immediately cease accepting new orders from such a customer; provided that this shall not apply to the new orders necessary in order to deal with currently outstanding positions.
When the claims and liabilities of the futures trader referred to in the preceding paragraph are fully settled, the futures commission merchant shall cancel the account. |
| Article 25-1 |
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| Article 25-2 |
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| 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 29-1 |
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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 |
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| 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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| Article 52 |
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| Article 53 |
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| Article 54 |
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| Article 55 |
When engaging in futures trading, a futures commission merchant shall not:
1. conceal or alter the trading information transmitted from a futures exchange;
2. recommend a specific kind of futures trading to futures traders or any unspecified group of multiple persons, or provide judgment on the rise or fall of prices to induce customers to engage in unnecessary or unreasonable trading;
3. directly or indirectly set up fixed places at locations other than the business premises of its head office or branch offices to enter into consignment contracts with futures traders; provided, however, that this restriction shall not apply where the FSC has provided otherwise;
4. directly or indirectly set up fixed places at locations other than the business premises of its head office or branch offices to accept consignment orders for futures trading from futures traders;
5. disclose, not in response to inquiries made in accordance with acts and regulations, either the particulars of consignment orders placed by futures traders, or other secrets obtained in the course of business;
6. misappropriate the funds or securities of a futures trader, or keep funds, seals, or passbooks under its custody on behalf of futures traders;
7. fail to provide necessary reply and disposition in response to a futures trader's inquiry regarding transaction particulars thus causing damage to the futures trader's rights and interests;
8. make false statements in account books, statements, or documents required by acts and regulations, or fail to prepare, report, publicly announce, preserve, or keep such items;
9. fail to submit, within the prescribed time limit, account books, statements, documents, or other reference materials or reports required by order of the FSC, or refuse or interfere with an inspection conducted by the FSC according to law;
10. lend to or borrow from futures traders or act as an intermediary for such lending or borrowing;
11. make untrue futures trading records;
12. make unauthorized alteration of the time stamp affixed on consignment order forms, trade confirmation statements, or other vouchers;
13. conduct futures trading for customers in a volume or in an open position in excess of the amount permitted by domestic or foreign futures trading acts and regulations;
14. provide trading accounts to futures traders for trading;
15. agree, without having received approval, to provide discretionary trading services, thereby making decisions on a customer's behalf concerning type, quantity, and price with respect to futures transactions;
16. use the accounts or names of futures traders to engage in futures trading;
17. use fraud, coercion, or other improper means to enter into a consignment contract with a futures trader;
18. provide information on recommended trades to a futures trader in any fashion; provided, however, that where other acts or regulations provide otherwise, they shall govern;
19. use information obtained through business relationships to trade futures on one's own account, or to provide others such information for their use in trading futures;
20. make use of non-employees to carry out business relating to futures trading;
21. violate the standards of self-governance adopted by the Federation of Futures Industry Associations; or
22. otherwise violate futures regulations or regulations of the FSC governing compulsory or prohibited acts. |
| Article 56 |
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