Standards Governing the Establishment of Securities Investment Consulting Enterprises Article 36

An insurance enterprise shall, upon permission by the FSC, concurrently operate discretionary investment business in a manner consistent with these Standards.The concurrent operation of the business under the preceding paragraph shall be subject, in addition to these Standards, to the Discretionary Investment Regulations.The insurance enterprise that concurrently operates discretionary investment business shall allocate operating capital, earmarked for that business, in an amount not less than that specified in Article 5, paragraph 1, subparagraph 1 of the Discretionary Investment Regulations.The operating capital allocated under the preceding paragraph may be used only for that exclusive purpose, and, unless otherwise provided in any other law, may not be used for purposes of any non-discretionary investment business or other business.The insurance enterprise shall have paid-in capital of not less than the total of the earmarked operating capital required to be allocated upon application to concurrently operate discretionary investment business, plus the minimum paid-in capital set out in the Regulations for Establishment and Administration of Insurance Enterprises, and shall carry out a capital increase in case of any shortfall.A foreign insurance enterprise shall exclusively allocate funds for operational use within the territory of the ROC in an amount of not less than the total of the earmarked operating capital required to be allocated upon application to concurrently operate discretionary investment business, plus the minimum amount to be exclusively allocated for operational use, as set out in the Regulations for Establishment and Administration of Foreign Insurance Enterprises, and shall make up for the insufficiency in case of any shortfall.