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Important Measures

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Important Measure September 2024

2024-11-14


1.    FSC Issues Order Under Article 27-2, Paragraph 1 of the Regulations Governing Offshore Funds, Specifying the “Certain Conditions” that Must Be Met by an Offshore Fund Institution, its Appointed Master Agent, and its Filing Case for Offering and Sale of Offshore Funds to Be Eligible for the Effective Registration System
To encourage offshore fund institutions to deepen their presence in Taiwan and make the review process for offshore fund cases more transparent, the FSC issued an order on 24 September 2024 specifying that, effective from 1 October 2024, those meeting the following conditions will be eligible for the 45-business-day effective registration system: (1) The offshore fund institution has successfully applied with the FSC under the Incentive Policy for Offshore Fund Development in Taiwan for recognition and for eligibility for preferential measures with respect to its case of a filing for offering and sale of an offshore fund. (2) The offshore fund’s domicile has signed a memorandum of cooperation on securities supervision with Taiwan or is a signatory member of a multilateral memorandum of understanding (MMoU) of the International Organization of Securities Commissions. (3) The master agent in the past 6 months has not received notice from the Securities Investment Trust and Consulting Association (SITCA) of an accumulated number of deficiency points reaching 15 or more under the Regulations on Defects in Master Agents’ Applications (Filings) for Offering and Sale of Offshore Funds in Taiwan or Compliance with Relevant Laws and Regulations. However, if it has received notice of an accumulated number of deficiency points reaching 15 or more but has remedied the situation, this condition shall still be considered to have been achieved.
 
Visitor: 536   Update: 2024-11-28
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