Regulations Governing the Conduct of Discretionary Investment Business by Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises Article 8
A SITE or a SICE that provides discretionary investment services shall establish a specialized department for that purpose, which shall be staffed with a sufficient number of competent supervisors and associated persons.In addition to the specialized department referred to in the preceding paragraph, a SITE or a SICE shall at a minimum also establish investment research, financial accounting, and internal audit departments.Unless the requirements of paragraph 4 or 5 are met, the supervisors and associated persons of the specialized department of paragraph 1 may not engage in any business other than that of the specialized department, nor may the duties of the supervisor and associated persons be undertaken on a concurrent basis by any person not registered as a department supervisor or associated person of the specialized department.When a SITE or a SICE conducts discretionary investment business, the associated persons engaged in investment or trading decision-making for that business may serve concurrently as personnel engaged in investment or trading decision-making with respect to private placement of securities investment trust funds, offering of futures trust funds to persons meeting certain eligibility requirements, or discretionary futures trading.When a SITE or a SICE conducting discretionary investment business meets the following requirements, the associated persons engaged in investment or trading decision-making for that business may serve concurrently as personnel engaged in investment or trading decision-making with respect to the offering of securities investment trust funds or as personnel engaged in securities investment analysis in connection with the conduct of securities investment consulting business, and vice versa:1. The customers of the discretionary investment business or securities investment consulting business are qualified institutional investors as specified in Article 4, paragraph 2 of the Financial Consumer Protection Act.2. The scope of investments or trading for the discretionary investment account, and the scope of analysis, opinions, or recommendations for securities investment by the concurrently operated securities investment consulting business shall be limited to the major investment targets and region of the fund that it manages, and the investment strategy shall uniformly be active management strategy or passive management strategy.3. The internal control system of the enterprise has already adopted operational principles for effective prevention of conflict of interests in order to ensure fair treatment of all clients.An associated person of the specialized department of paragraph 1 that carries out research and analysis and makes investment or trading decisions may not concurrently serve as an associated person that executes transactions, and an associated person that makes investment or trading decisions [in discretionary trading] may not concurrently serve as an associated person that makes investment or trading decisions in collective trust fund business, the offering of securities investment trust funds, the business of offering futures investment trust funds to unspecified persons, proprietary securities trading business, proprietary futures business, or trading or investment carried out with the enterprise's own funds.The department supervisor and associated persons of the specialized department referred to in paragraph 1 and the internal audit department referred to in paragraph 2, with the exception of a supervisor of an internal audit department of a SITE or a SICE concurrently operated by an enterprise in another line of business, shall possess the qualifications set out in the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises.A SITE or a SICE concurrently operated by an enterprise in another line of business shall establish the specialized department referred to in paragraph 1, provided that this requirement shall not apply if the SITE or SICE has already established an independent, specialized department to handled discretionary futures trading business.
中文原文 證券投資信託事業證券投資顧問事業經營全權委託投資業務管理辦法第8條
證券投資信託事業或證券投資顧問事業經營全權委託投資業務，應設置專責部門，並配置適足、適任之主管及業務人員。
除前項專責部門外，證券投資信託事業或證券投資顧問事業並應至少設置投資研究、財務會計及內部稽核部門。
第一項專責部門主管及業務人員，除符合第四項及第五項規定外，不得辦理專責部門以外之業務，或由非登錄專責部門主管或業務人員兼辦。
證券投資信託事業或證券投資顧問事業經營全權委託投資業務，其辦理投資或交易決策之業務人員得兼任私募證券投資信託基金、對符合一定資格條件之人募集期貨信託基金或全權委託期貨交易業務之投資或交易決策人員。
證券投資信託事業或證券投資顧問事業經營全權委託投資業務符合下列條件者，其辦理投資或交易決策之業務人員，得與募集證券投資信託基金之投資或交易決策人員或辦理證券投資顧問業務從事證券投資分析之人員相互兼任：
一、全權委託投資業務或證券投資顧問業務之客戶為金融消費者保護法第四條第二項所定之專業投資機構。
二、全權委託投資帳戶之投資或交易範圍及兼營證券投資顧問業務提供證券投資分析意見或推介建議之範圍，應以所經理基金之主要投資標的及地區為限，且其投資策略應同屬主動式操作管理策略或被動式操作管理策略。
三、該事業之內部控制制度已訂定有效防範利益衝突之作業原則，以確保公平對待所有客戶。
第一項專責部門辦理研究分析、投資或交易決策之業務人員，不得與買賣執行之業務人員相互兼任。
第一項專責部門與第二項內部稽核部門之主管及業務人員，除他業兼營者之內部稽核部門主管外，應符合證券投資顧問事業負責人與業務人員管理規則所定之資格條件。
他業兼營者，應依第一項規定設置專責部門。
但已設置獨立專責部門辦理全權委託期貨交易業務者，不在此限。
除前項專責部門外，證券投資信託事業或證券投資顧問事業並應至少設置投資研究、財務會計及內部稽核部門。
第一項專責部門主管及業務人員，除符合第四項及第五項規定外，不得辦理專責部門以外之業務，或由非登錄專責部門主管或業務人員兼辦。
證券投資信託事業或證券投資顧問事業經營全權委託投資業務，其辦理投資或交易決策之業務人員得兼任私募證券投資信託基金、對符合一定資格條件之人募集期貨信託基金或全權委託期貨交易業務之投資或交易決策人員。
證券投資信託事業或證券投資顧問事業經營全權委託投資業務符合下列條件者，其辦理投資或交易決策之業務人員，得與募集證券投資信託基金之投資或交易決策人員或辦理證券投資顧問業務從事證券投資分析之人員相互兼任：
一、全權委託投資業務或證券投資顧問業務之客戶為金融消費者保護法第四條第二項所定之專業投資機構。
二、全權委託投資帳戶之投資或交易範圍及兼營證券投資顧問業務提供證券投資分析意見或推介建議之範圍，應以所經理基金之主要投資標的及地區為限，且其投資策略應同屬主動式操作管理策略或被動式操作管理策略。
三、該事業之內部控制制度已訂定有效防範利益衝突之作業原則，以確保公平對待所有客戶。
第一項專責部門辦理研究分析、投資或交易決策之業務人員，不得與買賣執行之業務人員相互兼任。
第一項專責部門與第二項內部稽核部門之主管及業務人員，除他業兼營者之內部稽核部門主管外，應符合證券投資顧問事業負責人與業務人員管理規則所定之資格條件。
他業兼營者，應依第一項規定設置專責部門。
但已設置獨立專責部門辦理全權委託期貨交易業務者，不在此限。