Important Measure March 2020
1.Amended the “Regulations Governing Securities Firms”
FSC Amends the Incentive Policy for Onshore Fund, to Encourage Securities Investment Trust Enterprises(SITEs) to Apply
To encourage SITEs to raise the level of their asset management talent and techniques, increase the scale of asset management, and develop toward internationalization, the FSC amended the Incentive Policy for Onshore Fund and the related Q&A on 20 March 2020 by easing certain criteria.
In consideration of different development strategies and growth in the number of passively managed funds launched in recent years, and to encourage greater diversification of product strategies, the FSC removed certain evaluation standards of ETFs in the “Assets under Management and its Growth”, such as the average AUM (excluding money market funds and ETFs) in the most recent year ranked in the top one-third of AUM of SITEs in Taiwan, and that in the most recent year the average AUM (excluding money market funds and ETFs) was at least NT$10 billion and the growth rate was positive, meeting the growth rate of the overall market scale. The FSC also encouraged SITEs to apply to participate in the Policy by amending the other substantial contributions by recognizing outstanding performers, such as issuing funds appropriate for retirement planning , funds or discretionary accounts which invest domestically and emphasize on environmental protection (green), corporate governance or corporate social responsibility.
2.Implemented Continuous Trading Across the Board
On 23 March 2020, Taiwan’s securities market implemented an across-the-board continuous trading system to improve the market efficiency, better execute intermarket strategies in the cash and derivatives markets, and increase the information transparency. This move represents an important milestone for the Taiwan securities market, and has helped better align it with international norms.
Visitor： 338 Update： 2020-06-19