Regulations Governing Offshore Structured Products Article 22
A trustee or sub-distributor shall observe the following when engaging in trust investment or brokerage trading involving offshore structured products or investing in such products for investment-linked insurance policies:1. The trustee or sub-distributor shall determine whether the investor is a professional or non-professional investor:(1)The trustee or sub-distributor shall make an overall evaluation of the risk bearing capacity of non-professional investors based on their age, knowledge, investment experience, financial condition, trading purpose, and understanding of the product, classify non-professional investors into at least three risk categories, and ask such investors to give a signature as confirmation that he/she understands the risks involved.(2)With the exception of professional institutional investors, a professional investor may apply to the trustee or sub-distributor to change his or her status to non-professional investors. Non-professional investors that do not meet the criteria set forth in Article 3 herein may not apply to change their status to professional investor.2. The review of an offshore structured product by the product review team set up by a trustee or sub-distributor shall cover at least the following matters:(1)Evaluation and confirmation of the legality of the offshore structured product, the reasonableness of investment assumptions and risk return, the appropriateness of the investment mandate, and whether there are conflicts of interest involved;(2) Comprehensive evaluation of the features of the structured product, risk and probability of loss on principal, liquidity, complexity of product structure, and term to maturity; there should be at least three risk levels for structured products;(3)Evaluation and confirmation of the information and marketing materials on the offshore structured product to be provided to the investors, and the accuracy and comprehensiveness of information disclosure; and(4) Confirmation of whether the investment in the offshore structured products is limited to professional investors.3. A trustee or sub-distributor shall carry out the following marketing control procedures:(1) The trustee or sub-distributor shall, based on the results of review as described in the preceding subparagraphs, use bold font in the Chinese version of investor brochure and prospectus of the offshore structured product to highlight the risk level of the product and whether the product is for investment by professional investors only. A trustee or sub-distributor shall not accept requests from non-professional investors to invest in offshore structured products beyond their suitability levels or in products offered to professional investors only.(2) A trustee or sub-distributor shall fulfill its obligation to inform before making trust investment or brokerage trades in offshore structured products, or investing in such products linked to investment-linked insurance policies, and shall allow at least seven (7) days for non-professional investors and at least three (3) days for professional investors to review the related contracts of offshore structured product, except where a professional investor provides a signed statement that he or she has carefully reviewed the product. The preceding provision does not apply to investment-linked insurance policies whose applicants have the right to cancel the policy without penalty within a set time period according to the policy terms and conditions.(3) A trust enterprise or securities firm that engages in trust investment or brokerage trade of offshore structured product shall be read to or electronic equipment-based used to inform the investors the important points in the investor brochure, and save the tape recording or save with electronic equipment of the related operating electronic process. However, the foregoing information may be delivered to a professional investor in written or video format or video media instead.(4) An insurance company that sells investment-linked insurance policies linked to offshore structured products shall, before the expiration of the agreed free-look period, conduct phone visit for each and every case to make sure the solicitor has fully informed the client of the risks, fees and suitability of such investment-linked policy and that the client understands associated risks. The insurance company shall save the tape recording of such visits. Where the client could not be reached by phone or decline the phone visit, the insurance company shall send a registered letter to remind the client of associated risks.Where a trustee or sub-distributor engages in trust investment or brokerage sale involving offshore structured products or invest in offshore structured products for investment-linked insurance policies, the restriction in Item 1, Subparagraph 3 of the preceding paragraph does not apply to professional investors.The composition and operation of the product review team mentioned in Subparagraph 2 of Paragraph 1 hereof shall follow the provisions in Paragraphs 2 and 3 of Article 20 hereof, applicable regulations, and the self-regulatory rules set forth by the trade association of the trustee or sub-distributor.A trustee or sub-distributor shall include the matters mentioned in Paragraph 1 hereof as internal control and internal audit items and conduct regular audit and special audit according to the Regulations Governing the Implementation of Internal Control and Audit Systems for the industry.
中文原文 境外結構型商品管理規則第22條
受託或銷售機構辦理境外結構型商品之受託投資、受託買賣或以之為投資型保單之投資標的時，應遵守下列事項：
一、受託或銷售機構應確認投資人屬專業投資人或非專業投資人：
（一）受託或銷售機構應就非專業投資人之年齡、知識、投資經驗、財產狀況、交易目的及商品理解等要素，綜合評估其風險承受程度，且至少區分為三個等級，並請投資人簽名確認。
（二）除專業機構投資人外，專業投資人得以書面向受託或銷售機構申請變更為非專業投資人，但未符合第三條規定之非專業投資人不得申請變更為專業投資人。
二、受託或銷售機構設立之商品審查小組審查境外結構型商品，其審查至少應包括下列事項：
（一）評估及確認境外結構型商品之合法性、投資假設及其風險報酬之合理性、受託投資之適當性及有無利益衝突之情事。
（二）就境外結構型商品特性、本金虧損之風險與機率、流動性、商品結構複雜度、商品年期等要素，綜合評估及確認該金融商品之商品風險程度，且至少區分為三個等級。
（三）評估及確認提供予投資人之境外結構型商品資訊及行銷文件，揭露之正確性及充分性。
（四）確認該境外結構型商品是否限由專業投資人投資。
三、受託或銷售機構應進行下列行銷過程控制：
（一）受託或銷售機構應依前款之境外結構型商品審查結果，於境外結構型商品中文投資人須知及中文產品說明書上以顯著之字體，標示該境外結構型商品之商品風險程度、是否限專業投資人投資等資訊。
受託或銷售機構不得受理非專業投資人投資超過其適合等級之境外結構型商品或限專業投資人投資之境外結構型商品。
（二）受託或銷售機構於受託投資、受託買賣境外結構型商品或以之為投資型保單之投資標的前，應盡告知義務，並應提供非專業投資人不低於七日之審閱期間審閱境外結構型商品相關契約，其屬專業投資人者，除專業投資人明確表示已充分審閱並簽名者外，其審閱期間不得低於三日。
但投資型保單要保人依保險契約約定得行使契約撤銷權者，不在此限。
（三）信託業、證券商受託投資或受託買賣之境外結構型商品，應向投資人宣讀或以電子設備說明方式告知該境外結構型商品之投資人須知之重要內容，並以錄音方式保留紀錄或以電子設備留存相關作業過程之軌跡。
但對專業投資人得以交付書面或影音媒體方式取代之。
（四）保險業銷售連結境外結構型商品之投資型保單，應於保險契約所約定之撤銷期間屆滿前，進行逐案電話訪問，確認招攬人員已充分告知購買該等投資型保單之風險、費用率及適合性，且客戶已了解相關風險，並由保險業以錄音方式保留紀錄。
如電話聯繫未成或拒訪者，應補寄掛號提醒相關風險。
受託或銷售機構受託投資、受託買賣境外結構型商品或以之為投資型保單投資標的之境外結構型商品，投資人屬專業投資人者，得不受前項第三款第一目規定之限制。
第一項第二款所稱商品審查小組之組成及運作，除依第二十條第二項、第三項規定及法令另有規定外，應依受託或銷售機構所屬同業公會之自律規範辦理。
受託或銷售機構應將第一項之內容，納入內部控制及內部稽核項目，並依各業內部控制及稽核制度實施辦法規定，辦理一般查核及專案查核。
一、受託或銷售機構應確認投資人屬專業投資人或非專業投資人：
（一）受託或銷售機構應就非專業投資人之年齡、知識、投資經驗、財產狀況、交易目的及商品理解等要素，綜合評估其風險承受程度，且至少區分為三個等級，並請投資人簽名確認。
（二）除專業機構投資人外，專業投資人得以書面向受託或銷售機構申請變更為非專業投資人，但未符合第三條規定之非專業投資人不得申請變更為專業投資人。
二、受託或銷售機構設立之商品審查小組審查境外結構型商品，其審查至少應包括下列事項：
（一）評估及確認境外結構型商品之合法性、投資假設及其風險報酬之合理性、受託投資之適當性及有無利益衝突之情事。
（二）就境外結構型商品特性、本金虧損之風險與機率、流動性、商品結構複雜度、商品年期等要素，綜合評估及確認該金融商品之商品風險程度，且至少區分為三個等級。
（三）評估及確認提供予投資人之境外結構型商品資訊及行銷文件，揭露之正確性及充分性。
（四）確認該境外結構型商品是否限由專業投資人投資。
三、受託或銷售機構應進行下列行銷過程控制：
（一）受託或銷售機構應依前款之境外結構型商品審查結果，於境外結構型商品中文投資人須知及中文產品說明書上以顯著之字體，標示該境外結構型商品之商品風險程度、是否限專業投資人投資等資訊。
受託或銷售機構不得受理非專業投資人投資超過其適合等級之境外結構型商品或限專業投資人投資之境外結構型商品。
（二）受託或銷售機構於受託投資、受託買賣境外結構型商品或以之為投資型保單之投資標的前，應盡告知義務，並應提供非專業投資人不低於七日之審閱期間審閱境外結構型商品相關契約，其屬專業投資人者，除專業投資人明確表示已充分審閱並簽名者外，其審閱期間不得低於三日。
但投資型保單要保人依保險契約約定得行使契約撤銷權者，不在此限。
（三）信託業、證券商受託投資或受託買賣之境外結構型商品，應向投資人宣讀或以電子設備說明方式告知該境外結構型商品之投資人須知之重要內容，並以錄音方式保留紀錄或以電子設備留存相關作業過程之軌跡。
但對專業投資人得以交付書面或影音媒體方式取代之。
（四）保險業銷售連結境外結構型商品之投資型保單，應於保險契約所約定之撤銷期間屆滿前，進行逐案電話訪問，確認招攬人員已充分告知購買該等投資型保單之風險、費用率及適合性，且客戶已了解相關風險，並由保險業以錄音方式保留紀錄。
如電話聯繫未成或拒訪者，應補寄掛號提醒相關風險。
受託或銷售機構受託投資、受託買賣境外結構型商品或以之為投資型保單投資標的之境外結構型商品，投資人屬專業投資人者，得不受前項第三款第一目規定之限制。
第一項第二款所稱商品審查小組之組成及運作，除依第二十條第二項、第三項規定及法令另有規定外，應依受託或銷售機構所屬同業公會之自律規範辦理。
受託或銷售機構應將第一項之內容，納入內部控制及內部稽核項目，並依各業內部控制及稽核制度實施辦法規定，辦理一般查核及專案查核。