1.    FSC Amends the Regulations Governing Book-Entry Operations for Centrally Deposited Securities With Respect to Customers Submitting Applications by Electronic Means to Carry Out Centralized Depository and Book-Entry Transfer Operations
In alignment with the announcement and enforcement of amendments to the Electronic Signatures Act, the Financial Supervisory Commission (FSC) on 14 May 2025 issued amendments to Articles 34 and 35 of the Regulations Governing Book-Entry Operations for Centrally Deposited Securities, specifying that a customer submitting an application to the relevant participant by a means prescribed in the Electronic Signatures Act to carry out centralized depository or book-entry transfer operations is not required to present the customer’s passbook to the participant, but is required to present the specimen chop/signature by a digital signature.
2.    FSC Allows Securities Dealers to Conduct the Business of Proprietary Trading of Specific Foreign Bonds
In response to investment and trading patterns arising from financial technology innovation, to assist financial technology enterprises in adapting to the laws and regulations governing the implementation of financial innovation experiments, and thus to promote the development of the financial technology industry, the FSC has allowed securities dealers to conduct the business of proprietary trading of specific foreign bonds and to provide investors with access to specific foreign bonds in fractional amounts below the bonds’ full denomination. Also, on 8 May 2025, it issued amendments to the Standards Governing the Establishment of Securities Firms, the Regulations Governing Securities Firms, and the Regulations Governing Responsible Persons and Associated Persons of Securities Firms, which add a capital requirement of NT$100 million for securities dealers that operate only this business and require securities firms operating this business to abide by the rules of the Taipei Exchange (TPEx).
3.    FSC Amends the Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants, the Regulations Governing Leverage Transaction Merchants, the Regulations Governing Futures Trust Enterprises, the Regulations Governing Managed Futures Enterprises, the Regulations Governing Futures Advisory Enterprises, and the Regulations Governing the Operation of Futures Introducing Broker Business by Securities Firms, Relaxing the Time Limit for Relevant Personnel of Futures Enterprises to Participate in Pre-Service Training
To assist futures enterprises in attracting outstanding talent, increase flexibility in the allocation and utilization of human resources, and achieve the vision of promoting the competitiveness of the futures enterprises, the FSC on 6 May 2025 issued amendments to the above-referenced Regulations, changing the time limit for associated persons of futures enterprises to participate in pre-enterprises training from the original time frame of within 6 months before they engage in business activities to within 6 months after commencement of their employment. The amendments also add a requirement to void the registration of an associated person of a futures enterprise who fails to participate in pre- enterprises training, or who fails the training and furthermore fails to pass retraining within 1 year.
4.    FSC Amends Some Articles of the Regulations Governing the Offering and Issuance of Securities by Securities Issuers and Relevant Attachments
To increase the investability and liquidity of corporate bonds and to enhance investors’ rights and interests, the FSC on 5 May 2025 issued amendments to the above-referenced Regulations and their relevant attachments. The key points of the amendments are as follows: (1) Allowance for bondholders of convertible/exchangeable corporate bonds and corporate bonds with warrants to request for conversion during the book closure period for a shareholders meeting: A bondholder of such bonds may request for conversion/exchange or for exercise of warrants at any time during the aforementioned book closure period in accordance with the terms of conversion/exchange or terms of exercise set by the issuer, with the alteration of entries in the shareholder register being subject to relevant requirements of the Company Act. These amendments are set to be enforced from 1 July 2025. (2) Other amendments: To align with the organizational adjustment of the Ministry of Economic Affairs, the name of a subordinate agency of the Ministry, as referred to in the Regulations, is amended. Also, to align with relevant laws and regulations, the contents of relevant attachments to the Regulations are amended for consistency in terminology and references.