Standards Governing the Establishment of Securities Firms Article 20
A securities firm applying for the establishment of a branch office or a simple branch office shall meet all of the following requirements:1. The applicant's most recent CPA audited and attested financial report indicates that the net worth per share exceeds its par value and its financial condition complies with the standards under Article 49 of the Act. However, the requirement of net worth per share exceeding par value shall not apply to a securities firm that establishes additional branch offices or simple branch offices owing to merger, or acquisition of other securities firms.2. The applicant has not been sanctioned by the FSC with a warning under Article 66, subparagraph 1 of the Act within the most recent 3 months.3. The applicant has not been sanctioned by the FSC with an order under Article 66, subparagraph 2 of the Act to dismiss any of its directors, supervisors, or managerial officers or with replacement of its responsible person or other related personnel under Article 100, paragraph 1, subparagraph 2 of the Futures Trading Act within the most recent half year.4. The applicant has not been sanctioned by the FSC with suspension of operations within the most recent year.5. The applicant has not been sanctioned by the FSC with voidance of permission for any part of its business within the most recent 2 years.6. The applicant has not been sanctioned with suspension or restriction of trading by the TWSE, TPEx, or TAIFEX pursuant to its rules or bylaws within the most recent 1 year.7. The regulatory capital adequacy ratio of the securities firm is not lower than 150 percent.If a securities firm does not meet a requirement set forth in any of subparagraphs 2 to 6 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the securities firm may be exempted from the relevant requirement.For securities firms that establish additional branch offices or simple branch offices owing to merger or acquisition of the entire business, assets, or facilities of other securities firms under the approval of the FSC, the requirements of subparagraphs 2, 3, and 7 of paragraph 1 shall not apply.
中文原文 證券商設置標準第20條
證券商申請設置分支機構或簡易分支機構，應符合下列各款之規定：
一、最近期經會計師查核簽證之財務報告每股淨值不低於票面金額且其財務狀況符合本會依本法第四十九條所定之標準者。
但因合併或受讓而增設分支機構或簡易分支機構者不受最近期財務報告每股淨值不低於票面金額之限制。
二、最近三個月未曾受本會依本法第六十六條第一款所為之警告處分者。
三、最近半年未曾受本會依本法第六十六條第二款所為命令該證券商解除其董事、監察人或經理人職務處分者，或依期貨交易法第一百條第二款撤換其負責人或其他有關人員之處分者。
四、最近一年未曾受本會為停業之處分者。
五、最近二年未曾受本會撤銷部分營業許可之處分者。
六、最近一年未曾受證券交易所、證券櫃檯買賣中心、期貨交易所依其章則為處以停止或限制買賣之處分者。
七、證券商自有資本適足比率未低於百分之一百五十者。
證券商不符前項第二款至第六款之條件，但其情事已具體改善，並經本會認可，得不受其限制。
證券商經核准合併或受讓他證券商全部營業財產或設備而增設分支機構或簡易分支機構者，不受第一項第二款、第三款及第七款之限制。
一、最近期經會計師查核簽證之財務報告每股淨值不低於票面金額且其財務狀況符合本會依本法第四十九條所定之標準者。
但因合併或受讓而增設分支機構或簡易分支機構者不受最近期財務報告每股淨值不低於票面金額之限制。
二、最近三個月未曾受本會依本法第六十六條第一款所為之警告處分者。
三、最近半年未曾受本會依本法第六十六條第二款所為命令該證券商解除其董事、監察人或經理人職務處分者，或依期貨交易法第一百條第二款撤換其負責人或其他有關人員之處分者。
四、最近一年未曾受本會為停業之處分者。
五、最近二年未曾受本會撤銷部分營業許可之處分者。
六、最近一年未曾受證券交易所、證券櫃檯買賣中心、期貨交易所依其章則為處以停止或限制買賣之處分者。
七、證券商自有資本適足比率未低於百分之一百五十者。
證券商不符前項第二款至第六款之條件，但其情事已具體改善，並經本會認可，得不受其限制。
證券商經核准合併或受讓他證券商全部營業財產或設備而增設分支機構或簡易分支機構者，不受第一項第二款、第三款及第七款之限制。