Regulations Governing the Scope of Business, Restrictions on Transfer of Beneficiary Rights, Risk Disclosure, Marketing, and Conclusion of Contract by Trust Enterprises Article 2

The term "foreign securities" as used in these Regulations shall mean foreign stocks, foreign bonds, foreign warrants, foreign depositary receipts, foreign exchange-traded funds (ETF), offshore funds, and foreign securitized products. The provisions in these Regulations concerning foreign securities shall apply to offshore structured products issued in the form of bonds.The terms "professional investor, professional institutional investor, and non-professional investor" as used in these Regulations shall refer to Paragraphs 3 and 4, Article 3 of the Regulations Governing Offshore Structured Products.With the exception of professional institutional investors, a professional investor may apply to a trust enterprise in writing to change his or her status to non-professional investor. Non-professional investors that do not meet the criteria set forth in the preceding paragraph may not apply to change his or her status to professional investor.A trust enterprise is responsible for conducting reasonable investigation that a professional investor meets the qualification requirements and obtaining reasonable and credible corroborative evidence from the investor. The evaluation method of a trust enterprise for assessing whether a professional investor has sufficient professional knowledge and trading experience in financial products should be included in the “Know Your Customer” procedure and be approved by the Board. If a trust enterprise does not have a Board, it should be approved by the responsible person in the ROC.