TAI FSC Mechanism for Fund Offerings

Updated on: Jan 24, 2025

Latest Event


  • 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.

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
Entity Types
B/D; IA; Inv Co; OTC
Reference
RF SITCA No. 1140050372, 1/21/2025, Lt FSC No. 1140330027, 1/20/2025; RF TWSE No. 1130025479, 12/31/2024; RF TPEX No. 11300814561, 12/31/2024; Lt DCC No.1130028670, 12/31/2024; RF FSC No. 1130385856, 11303858561, 11303858562, 1130152788, 11303858568, 12/30/2024; Rpl FSC No. 11203852936, 11203852937, 11203852938, 12/14/2023;
Functions
Compliance; Financial; Legal; Product Administration; Registration/Licensing; Reporting; Sales Practices; Treasury
Countries
Taiwan; Cross-Border
Category
State
N/A
Products
ETFs; Fund Mgt; Issuance/IPO; Securities
Rule Type
Final
Regions
AP
Rule Date
Dec 30, 2024
Effective Date
Feb 21, 2025
Rule ID
238899
Linked to
Reg. Last Update
Jan 21, 2025
Report Section
International