2017.10.19
Yi-Shan Cheng
The Financial Supervisory Commission (hereinafter, the “FSC”) issued the Jin-Guan-Zheng-Tou-10600406051 Circular of October 19, 2017 (hereinafter, the “Circular”) to clarify issues concerning the application of the criteria for the qualifications of natural person subscribers seeking to invest in privately placed securities investment trust funds through specific individually managed money trust.
According to the Circular, with respect to the qualifications of natural person subscribers seeking to invest in privately placed securities investment trust fund through specific individually managed money trust, the following conditions shall be satisfied at the time of subscription or assignment: first, a proof of financial strength in excess of NT$30 million shall be provided; or a single fund investment in excess of NT$3 million where the total asset (in the form of bank deposit and investment (including such investment)) of the securities investment trust enterprise, operator that concurrently operates securities investment trust business or an entrusted institution that privately placed the beneficiary certificate exceeds NT$15 million, and a financial strength statement indicating that the total asset exceeds NT$30 million is provided. Secondly, there shall be sufficient expertise and trading experiences with financial products. In addition, like a trust enterprise that enters into a trust deed, the trustor shall also meet the requirements in the preceding two subparagraphs.