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1.Signed on June 16, 1993; Entered into force on June 16, 1993.
1.The Securities and Investments Board of the United Kingdom ("
SIB") and the Securities and Exchange Commission in Taipei ("
SEC") ("the Signatories") recognise the increasing internatio-
nal activity in the futures and options markets of the United
Kingdom and Taiwan("derivatives markets"), and the correspond-
ing need for mutual co-operation between the Signatories.
2.The Signatories believe that, as international participation
in derivatives markets continues to grow, it becomes increasi-
ngly important to establish arrangements for the Signatories
to exchange supervisory, surveillance and investigatory infor-
mation in order to assist each other in securing compliance w-
ith the laws, regulations and rules of the United Kingdom and
Taiwan relating to derivatives markets, to the extent permitt-
ed by the law of each country. This should serve to improve t-
he protection of investors, to help to strengthen the adequat-
e supervision and effective regulation of the derivatives bus-
iness, to enhance the supervision of cross-border transactions
in derivatives products, and to prevent fraudulent and other
prohibited practices, thus protecting the integrity of the de-
rivatives markets.
3.The Signatories agree to consider carefully each request for
information from the other relating to supervision, surveilla-
nce, and investigation as described in paragraph 2 above. In
order to facilitate the timely processing of requests, the Si-
gnatories agree to appoint as contact persons those designated
in Appendix A.
4.This Memorandum represents an important step towards improving
co-operation between the Signatories in the supervision of th-
eir respective derivatives markets. The Signatories look forw-
ard to a productive relationship, and agree in principle to n-
egotiate in good faith additional measures relating to the ex-
change of information should such measures prove necessary or
Signed this 16th day of June 1993.

[Signed] [Signed]
Andrew Large Linin Day
Chairman Chairman
Securities and Investments Securities and Exchange
Board of the United Kingdom Commission in Taipei

Appendix A
Contact Points
■The Securities and Investments Board:
Group Director, Compliance and Enforcement
Gavrelle House
2-14 Bunhill Row
London EC1Y 8RA
Telephone: 44 71 638 1240
Fax: 44 71 382 5906
■The Securities and Exchange Commission in Taipei:
General Counsel
Securities and Exchange Commission
Ministry of Finance
12th Floor
3 Nan-hai Road
Taipei 10728
Taiwan, Republic of China
Telephone:886 2 356 0950
Fax: 88623948249 1