On Jan. 21, 2025, TAI SITCA amended nine types of fund securities investment trust contracts including offshore equity funds to align with the TAI FSC's order above.
Document dated Jan. 21, 2025, received from TAI SITCA Jan. 22, summarized Jan. 23.
On Dec. 30, TAI FSC entrusted TAI EXC, TPEX, DDC re fund offerings.
TAI FSC and TAI Justice issued notices to entrust TAI EXC and TAI TPEX to handle the cases of a SITE registration for publicly offering, making a follow-on offering of as well as requesting an extension of being listed for exchange traded fund (ETF).
In addition, the cases of filing for making a follow-on offering for securities investment trust funds traded by an active exchange which is listed on the TAI TPEX.
Plus, issued notice to entrust TAI DCC to handle the cases of a SITE registration for publicly offering, making a follow-on offering of or requesting an extension for other types of securities investment trust fund except exchange-traded securities investment trust funds and active exchange-traded securities investment trust funds.
In addition, the cases of offshore fund offering as well as sale cases which are handled by their appointed master agent of the relevant offshore fund institution.
Follows TAI FSC Dec. 2023 finalized changes to fund administration rules, #185633.
TAI EXC, TPEX Entrustment
Accept cases of index stock-type securities investment trust funds being raised by securities investment trust enterprises for listing/OTC listing, additional raising cases.
In addition, extension applications, as well as additional raising cases of active exchange-traded securities investment trust funds applying for listing/listing on OTC.
Formulate the relevant declaration forms along with document content.
Accept securities investment trust enterprises’ declarations for umbrella fund raising cases that do not include active exchange-traded securities investment trust funds, and any sub-fund is a fund that has previously been entrusted to handle matters.
TAI DDC Entrustment
Accept securities investment trust enterprises’ declaration of other types of securities investment trust fund raising cases, additional raising cases, extension applications.
Other than index stock securities investment trust funds and active exchange-traded securities investment trust funds and matters such as the cancellation, abolition or alternatively change of the previous case declaration that has taken effect.
In addition, formulate the relevant declaration forms and document content.
Accept securities investment trust enterprises’ declarations for umbrella fund raising cases that do not include active exchange-traded securities investment trust funds, and any sub-fund is a fund that has previously been entrusted to handle matters.
Accept the application of offshore fund raising and sales cases by agents appointed by offshore fund institutions, abolition or modification of previously filed cases.
Effectiveness
The notices will be effective from Jan. 1, 2025.
Dec. 31, 2024 TAI DCC Letter
On Dec. 31, 2024, TAI DCC revised key points for reviewing entrusted cases for domestic and overseas fund raising; to clarify scope, procedures for fund review cases.
Key updates include distinguishing processes for domestic, overseas funds, specifying effective dates for stage 2 reviews, introducing joint review committee mechanism.
Plus, detailed requirements for documentation and submission for fund pre-reviews.
The letter will be effective from Jan. 1, 2025.
Dec. 31, 2024 TAI TPEX
On Dec. 31, 2024, TAI TPEX revised Operational procedures for the commissioned handling of cases of public offerings of exchange-traded funds by securities investment trust enterprises, as well as related forms; to be effective from Jan. 1, 2025.
Dec. 31, 2024 TAI EXC
On Dec. 31, 2024, TAI EXC published the revised Operational procedures for the commissioned handling of cases of public offerings of index stock funds and actively managed exchange-traded funds by securities investment trust enterprises.
Document dated Dec. 31, 2024, received from TAI EXC Jan. 3, summarized on Jan. 7.
Jan. 2025 TAI SITCA
On Jan. 21, 2025, TAI SITCA amended nine types of fund securities investment trust contracts including offshore equity funds to align with the TAI FSC's order above.
Document dated Jan. 21, 2025, received from TAI SITCA Jan. 22, summarized Jan. 23.
Regulators
TAI DCC; TAI EXC; TAI FSC; TAI Justice; TAI SITCA; TAI TPEX