Standards Governing the Establishment of Securities Firms Article 11

Securities firms shall establish an internal control system referred to in Article 10, paragraph 1, subparagraph 4 in accordance with the Regulations Governing Establishment of Internal Control Systems by Service Enterprises in Securities and Futures Markets and the regulations for establishing internal control systems by securities firms jointly prescribed by the TWSE and other related institutions.Securities firms operating security token proprietary trading business, equity crowdfunding business, brokerage business for trading and exchanging beneficial certificates of funds, or proprietary trading of specific foreign bonds shall handle their internal control system in accordance with applicable rules adopted by the TPEx. A securities firm that operates only security token proprietary trading business, equity crowdfunding business, brokerage business for trading and exchanging beneficial certificates of funds, or proprietary trading of specific foreign bonds is not subject to the provisions of the preceding paragraph.