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法規名稱: MEMORANDUM OF UNDERSTANDING BETWEEN TAIWAN FINANCIAL SUPERVISORY COMMISSION AND DUBAI FINANCIAL SERVICES AUTHORITY
簽訂日期: 民國 97 年 11 月 05 日
生效日期: 民國 97 年 11 月 05 日
簽約國: 亞西地區 > 阿拉伯聯合大公國
沿革:
1.Signed on Novenber 5, 2008; Entered into force on Novenber 5, 2008.

 
Recitals
A.The FSC is Taiwan's national financial services and markets
regulator, whose authority is empowered by the Organic Act of
Financial Supervisory Commission, Executive Yuan, and other
applicable laws and regulations to supervise financial
services, financial products and financial markets.
B.The DFSA is the sole independent financial services and market
regulator of the Dubai International Financial Centre (DIFC)
established under Dubai Law No. 9 of 2004. The DFSA
administers the DIFC Regulatory Law No. 1 of 2004, which
provides, among other things, for the authorization,
registration, recognition and supervision of financial service
providers, financial services and products related to banking,
securities, Islamic finance, collective investment schemes,
asset management, trust services and insurance and
re-insurance. The DFSA has the authority under the DIFC
Markets Law No. 12 of 2004 to regulate the securities markets,
including futures and derivatives.
C.The FSC and the DFSA wish to enter into this MOU to provide a
formal basis for co-operation, including for the exchange of
information and investigative assistance. The FSC and the DFSA
believe such co-operation will enable them to more effectively
perform their functions.

Operative Part

Interpretation
1.In this MoU, unless the context requires otherwise:
"administering" an applicable law, regulation or requirement
includes enforcing the same;
"applicable laws, regulations and requirements" means any law,
regulation or requirement app1icable in Taiwan and/or in the
DIFC, and
where the context permits includes:
(a) any law, regulation or requirement applicable in a Taiwan
or the DIFC; and
(b) any rule, direction, requirement, guidance or policy made
or given by or to be taken into account by an Authority;
"Authority" means the FSC or the DFSA
"DFSA" means the Dubai Financial Services Authority;
"FSC" means Financial Supervisory Commission;
"permitted onward recipient" means an agency or authority
responsible for prosecuting, regulating or enforcing
applicable laws, regulations and requirements falling within
the areas of responsibility of the Authorities;
"person" means a natural person, legal entity, partnership or
unincorporated sociation.

Purpose and principles
2.The purpose of this MoU is to establish a formal basis for
co-operation, including the exchange of information and
investigative assistance.
3.This MoU does not modify or supersede any laws or regulatory
requirements inforce in, or applying to, Taiwan or the DIFC.
This MoU sets forth a statement of intent and accordingly does
not create any enforceable rights. This MoU does not affect
any arrangements under other MoUs.
4.The Authorities acknowledge that they may only provide
information under this MoU if permitted or not prevented under
applicable laws, regulations and requirements.

Provision of Unsolicited Information
5.The Authorities may provide information, or arrange for
information to be provided, on a voluntary basis even though
no request has been made.

Requests for Assistance
6.If a request for assistance is made, each Authority will use
reasonable efforts to provide assistance to the other, subject
to its laws and overall policy. Assistance may include for
example:
(a) providing information in the possession of the requested
Authority;
(b) confirming or verifying information provided to it for that
purpose by the requesting Authority;
(c) exchanging information on or discussing issues of mutual
interest;
(d) obtaining specified information and documents from persons;
(e) questioning or taking testimony of persons designated by the
requesting Authority;
(f) conducting inspections or examinations of financial services
providers or arranging for the same; and
(g) permitting the representatives of the requesting Authority
to participate in the conduct of enquiries made by or on
behalf of the requested Authority pursuant to paragraphs (e)
- (f) above.

Procedure for Requests
7.Requests for the provision of information or other assistance
will be made in writing, or made orally and, unless otherwise
agreed, confirmed in writing within ten business days. To
facilitate assistance, the requesting Authority should specify
in any written request:
(a) the information or other assistance requested (identity of
persons, specific questions to be asked etc.);
(b) if information is provided by the requesting Authority for
confirmation or verification, the information and the kind
of confirmation or verification sought;
(c) the purpose for which the information or other assistance is
sought;
(d) to whom, if anyone, onward disclosure of information
provided to the requesting Authority is likely to be
necessary and, in relation to onward disclosure to a person
who is not a permitted onward recipient, the purpose such
disclosure would serve;
(e) if the request for assistance is for the purpose of actual
or possible enforcement action, the matters set out in
clause 1 of Appendix 1; and
(f) any other matters specified by the requested Authority and
by the applicable laws, regulations and requirements in
relation to the requested Authority.

Assessing Requests
8.Each request for assistance will be assessed on a case-by-case
basis by the requested Authority to determine whether
assistance can be provided under the terms of this MoU. In any
case where the request cannot be fulfilled in part or whole,
the requested Authority will consider whether there may be
other assistance which can be given by itself or by any other
authority in its jurisdiction.
9.In deciding whether and to what extent to fulfill a request,
the requested Authority may take into account:
(a) whether the request conforms with this MoU;
(b) whether the request involves the administration of a law,
regulation or requirement which has no close parallel in the
jurisdiction of the requested Authority;
(c) whether the provision of assistance would be so burdensome
as to disrupt the proper performance of the requested
Authority's functions;
(d) whether it would be otherwise contrary to the public
interest or the essential national interest of the requested
Authority's jurisdiction to give the assistance sought;
(e) if the request for assistance is for the purpose of actual
or possible enforcement action, the further matter set out
in clause 2 of Appendix 1;
(f) any other matters specified by the laws, regulations and
requirements of the requested Authority's jurisdiction (in
particular those relating to confidentiality and
professional secrecy, data protection and privacy, and
procedural fairness);and
(g) whether complying with the request may otherwise be
prejudicial to the performance by the requested Authority of
its functions.
10.The authorities recognize that assistance may be denied in
whole or in part for any of the reasons mentioned in
paragraph 9 in the discretion of the requested Authority.

Contact Points
11.The Authorities will provide a list of contact points to
which information or requests for information or assistance
under this MoU should be directed.

Further Provisions
12.The further provisions set out in:
(a) Appendix 1 will apply in relation to actual or possible
enforcement matters;
(b) any other Appendices covering specific areas or financial
services or specific issues, as agreed in writing by the
Authorities, will apply.

Costs
13.If the cost of fulfilling a request is likely to be
substantial, the requested Authority may, as a condition of
agreeing to give assistance under this MoU, require the
requesting Authority to make a contribution to costs.

Confidentiality
14.An Authority that receives non-public information under this
MoU will only disclose that information in accordance with
disclosure permitted under its applicable laws, regulations
and requirements. The recipient Authority will endeavour to
consult with the other Authority if it proposes to pass on
information to a permitted onward recipient. The recipient
Authority will obtain the written consent from the other
Authority if it proposes to pass on information to a person,
other than a permitted onward recipient.. The recipient
Authority will endeavour to comply with any restrictions on
the use of information that are agreed when the information
is provided.
15.If there is a legally enforceable demand for information
supplied under this MoU, the Authority receiving the demand
wil1 notify the Authority that supplied the information of
the demand, unless this is not practicable for reasons of
urgency. The Authority receiving the demand will use all
reasonable legal means to resist such a demand, including
asserting such appropriate legal exemptions or privileges
with respect to that information as may be available.

Consultation
16.The Authorities will keep the operation of this MoU under
review and will consult when necessary with a view to
improving its operation and resolving any matters.
17.Where the specific conduct set out in the request for
assistance may constitute a breach of a law, regulation or
requirement in both the jurisdiction of the requesting and
the requested Authorities, the relevant Authorities will
consult to determine the most appropriate means for each
Authority to provide assistance.

Commencement
18.This MoU will take effect when both Authorities have signed
it and will continue to have effect until terminated by
either Authority giving 30 days advance written notice to the
other Authority. It may be amended by agreement in writing.

SIGNED IN Taipei ON Novenber 5,2008

Executed by the Parties:

For the FSC For the DFSA

────────── ──────────
Gordon S. CHEN David W. Knott
Chairman Chief Executive

Date: Date :


Appendix 1 : Further Procedures for Enforcement Matters

Further details to be contained in requests for assistance
1.If a request for assistance as described in this MoU relates
to actual or possible enforcement action, the following
further details will be contained in the request:
(a) a description of the conduct or suspected conduct which
gives rise to the request;
(b) details of the applicable law, regulation or requirement to
the administration of which the request is relevant;
(c) the link between the specified rule or law and the
regulatory functions of the requesting Authority;
(d) the relevance of the requested assistance to the specified
rule or law; and
(e) whether it is desired that, to the extent permitted by the
laws applying to the requested Authority, any persons from
the jurisdiction of the requesting Authority should be
present during interviews which from part of an
investigation, and whether it is desired that such persons
should be permitted to participate in the questioning (as to
which see clause 3 below).

Further ground for denial of request
2. If a request for assistance as described in this MoU relates
to actual or possible enforcement action, the following
further matter may be taken into account by the requested
Authority in determining whether to fulfill the request in
whole or in part:
◆whether the request would lead to the prosecution of, or
the taking of disciplinary or other enforcement action
against, a person who in the opinion of the requested
Authority has already been appropriately dealt with in
relation to the alleged breach the subject-matter of the
request.

Requests to Sit in
3.If, following a request from the requesting Authority, the
requested Authority conducts an interview of any person, the
requested Authority may permit a representative of the
requesting Authority to attend such an interview and to ask
questions. Such requests will be in accordance with the
applicable laws, regulations and requirements of the requested
Authority. Requests for such assistance should conform to any
published guidance for the making of such requests issued by
the requested Authority.

Joint Investigations
4.The Authorities acknowledge that, subject to secrecy and
confidentiality issues, an investigation, where it concerns
suspected breaches of the law of both jurisdictions, may be
conducted more effectively by the establishment of a joint
investigation involving members from both Authorities.
5.The Authority suggesting the joint investigation will advise
the other Authority of the background to the request for a
joint investigation, and liaise with the other Authority to
determine the likely objectives of the joint investigation,
the expected resources required and the approximate duration
of the proposed joint investigation. Each Authority will
advise the other as soon as possible as to whether it will
agree to such an investigation.
6.If the Authorities agree to take part in a joint
investigation, an agreed initial action plan will be prepared
setting out, among other things, the objectives, expected
duration, funding, publicity and accountability arrangements,
management of the joint investigation, and allocation of
responsibilities..
7.Suggestions to FSC for a joint investigation should be made,
through Dept. of International Affairs. Suggestions to the
DFSA should be made to the Director of International
Relations.

Rights of persons preserved
8.Any person providing testimony, information or documents as a
result of a request made under this MoU will be entitled to
all the rights and protections of the laws of the jurisdiction
of the requested Authority. Where assertions are made
regarding other rights and privileges arising exclusively
pursuant to the laws of the jurisdiction of the requesting
Authority, the Authorities will consult to determine the most
appropriate way to proceed.