Regulations Governing Concurrent Conduct of Trust Business by Securities Investment Trust Enterprises, Securities Investment Consulting Enterprises, and Securities Firms Article 7

A securities firm that has been approved by the competent authority to conduct specific types of trust business provided in Paragraph 3 of Article 3 herein may submit the following documents to the competent authority to apply for permission for its established branches to accept trust assets from customers:1. Application documents required for such business under the Directions for Securities Firms Engaging in Wealth Management Business or the Regulations Governing Custody and Investment of Funds by Securities Firms on Behalf of Customers; and2. Namelist of branch business personnel for operating and managing the trust business and their qualification documents.The securities firm that makes the application mentioned in the preceding paragraph shall, with six (6) months from the date of approval by the competent authority, apply for replacement of business permit for its branches in accordance with the Securities and Exchange Act, and complete the registration of new business item via the online filing system of the competent authority or a website designated by the competent authority where the new business item is handling the trust business of the head office's trust department as approved by the competent authority. Before making such registration, the securities firm shall have its president (general manager) and chief compliance officer double check to make sure the registered business item conforms to regulatory requirements and file the same with the competent authority before it may commence the business.Where the securities firm fails to make registration within the time limit specified in the preceding paragraph, the competent authority may revoke the permit for such business. However, the time limit may be extended once, provided the securities firm has justified reasons and submits an application for extension prior to the expiration of the time limit, and that such extension may not exceed six (6) months.The competent authority shall reject the application made by a securities firm in Paragraph 1 hereof if the application has any of the following situations:1. The application does not conform to the provisions in Article 8 of the Act herein2. The applicant's conduct of trust business has been ordered by the competent authority to take corrective actions, but the applicant has failed to comply accordingly and the non-compliance is of serious nature.3. There are other facts indicating that the applicant's sound business operation might be affected, or the application does not meet the requirements of a financial policy.