A securities enterprise concurrently conducting trust business that engages in wealth management business by means of non-discretionary or semi-discretionary individually managed money trust involving foreign exchange (hereinafter referred to as “wealth management business involving non-discretionary or non-discretionary individually managed money trust”) shall apply to the Bank for approval by submitting documents provided in Article 7 herein and a business plan (including business description, business counterparties, trust framework, receipt/payment principles and declaration of foreign exchange settlement).
When a securities enterprise that has been approved by the Bank to engage in wealth management business involving non-discretionary or semi-discretionary individually managed money trust subsequently increases or decreases the number of branches handling the business, the securities enterprise shall report to the Bank for record within seven (7) days after obtaining approval from the competent authority.

When a securities enterprise engages in business under the preceding article, related receipt/ payment shall be handled according to the following rules:
1.Foreign currency non-discretionary or semi-discretionary money trust: Receipt/payment of the trust funds between a securities enterprise and the trustor or the beneficiary shall only be handled in foreign currency and not paid in NTD.
2.NTD non-discretionary or semi-discretionary money trust with investments in products involving foreign exchange:
(1) Receipt/payment of trust funds between a securities enterprise and the trustor or the beneficiary shall only be handled in NTD. Proceeds from the sale of foreign currency denominated products invested by the trust shall be exchanged into NTD immediately and deposited into the NTD trust asset deposit account – trustor sub-account. Foreign currency deposits shall be used exclusively for settlement purpose only.
(2) When the purchase or sale of foreign currency denominated products through the same trust account involves exchange settlement against NTD, the securities enterprise shall carry out gross settlement through an authorized bank or by itself if it is a DSF without offsetting or settling on a net basis. However, for accounts receivable or payable arising from the purchase or sale of underlying assets on the same date or sale first and then buyback before the settlement of the sale through the same trust account of the trustor, the securities enterprise may, according to the trustor's instruction, combine and net off all the received (paid) money in the same foreign currency and then exchange the net received (paid) amount into NTD.

Before establishing a foreign currency denominated collective investment trust account for the first time, a securities enterprise concurrently conducting trust business that engages in foreign currency denominated collective investment trust account business shall apply to the Bank for approval by submitting documents provided in Article 7 herein, and in addition, the following documents:
1.A FSC approval letter, but exempted for the collective investment trust accounts that accept funds from professional investors only, provided it is stated so in the application letter and reported to the FSC for record in accordance with the “Regulations Governing Management and Utilization of Collective Investment Trust Funds”;
2.A management and utilization plan for the foreign currency denominated collective investment trust account;
3.The risk level of the collective investment trust account and the risk tolerance level of investors who could bear the risk of the account, but exempted for the collective investment trust accounts that accept funds from professional investors only, provided it is stated so in the application letter; and
4.Terms and conditions of the collective investment trust account agreement.
A securities enterprise establishing a NTD denominated collective investment trust account that involves foreign exchange settlement against NTD shall apply to the Bank for permission to carry out foreign exchange settlement by submitting documents provided in Subparagraphs 1 and 4 of the preceding paragraph, a declaration statement and an account asset schedule.

Securities enterprises shall observe the following rules when handling receipt/payment associated with business under the preceding article:
1.Foreign currency denominated collective investment trust account: Receipt/payment of trust funds between a securities enterprise and the trustor or the beneficiary shall only be handled in foreign currency instead of NTD.
2.NTD denominated collective investment trust account with investments in products involving foreign exchange: Receipt/payment of trust funds between a securities enterprise and the trustor or the beneficiary shall be handled in NTD only.

When a securities enterprise concurrently conducting trust business that engages in wealth management business by means of non-discretionary or semi-discretionary individually managed money trust, the qualifications of the trustor shall meet the criteria set out in Subparagraph 1 of Point 9 and Subparagraph 1 of Point 10 of the “Operating Directions”.
There shall be no transfer of funds between the NTD and foreign currency denominated non-discretionary or semi-discretionary money trust accounts of the same trustor or different trustors.
When a securities enterprise concurrently conducting trust business with investments in products involving foreign exchange, such products must be denominated in foreign currency and shall not involve or be linked to NTD exchange rate or NTD interest rate index.