Regulations Governing the Management of Collective Trust Funds Article 25

A trust enterprise shall make investment decisions regarding the utilization of a collective trust fund based on investment analysis reports, execute the transactions, make records of the investment decisions and the execution thereof, and submit regular review reports to the trust asset evaluation committee.An investment analysis report referred to in the preceding paragraph shall state its analytical foundation, basis, and suggestions; the investment decision record shall state the type and quantity of investment target, and the timing of investment; the execution record shall state the type, quantity, price, and time of the actual investment or transaction, and explain the reason for any discrepancy with the originally made investment decisions.The documented information required in Paragraph 1 hereof shall be recorded chronologically and kept on file for a period of not less than five years.A trust enterprise may engage a third party possessing professional investment analysis and consulting capabilities to provide investment analysis and consulting services.