The FSC amended the “Regulations Governing the Offering and......

Continuing the achievements of the "Capital Market Strengthening Plan" of the Asia Asset Management Center, the FSC further launched the "Asia Innovation Capital (AIC)" to provide diverse, flexible, and internationally connected fundraising channels by optimizing the specifications for financing through both equity and debt.
Regarding the bonds, to increase participation in Taiwan's bond market, the FSC amended the "Regulations Governing the Offering and Issuance of Securities by Foreign Issuers," and it will amend the relevant letters and orders and adjust the bond issuance specifications in Taiwan for foreign companies. The FSC also added qualifications and conditions for: (I) a branch of a foreign financial institution fully guaranteed by said foreign financial institution, with the stocks of the parent holding company of the foreign institution being listed for trading on an approved overseas stock market for three years, and (II) a special-purpose subsidiary established by a foreign company for fundraising and capital management requirements and fully guaranteed by said foreign company, with the foreign company being listed for trading on an approved overseas stock market for three years, to allow foreign companies to issue general corporate bonds on the main board and adopt the shelf registration approach. The amendments also simplified spin-off procedures for foreign issuers, aligned the management of annual reports for shareholders' meetings of domestic and foreign companies, enhanced the fundraising management and information disclosure requirements of foreign issuers, and complied with amendments to other regulations.
The notice for the amended articles and tables had been published. The FSC referred to and adopted recommendations from different sectors; the scope of guarantee shall be limited to the part of debt regarding guarantees provided by another (parent) company to a subordinate (subsidiary) for the issuance of bonds to align with international practices. The regulations, letters, and orders will be published shortly.

According to the FSC, the amendments will help attract large-scale international financial institutions and enterprises to issue bonds in Taiwan, allowing diverse foreign enterprises to participate in Taiwan's capital market, diversifying the investment channels of nationals, and facilitating the development of Taiwan's bond market. Furthermore, such situations also help improve the business development opportunities and international operating capabilities of relevant brokers, allowing Taiwan to become the Asia Asset Management Center.

Contact Unit: Division Chief Chen, Securities Issuance Division, Securities and Futures Bureau
Tel.: (02)2774-7129
For inquiries, please send an e-mail via FSC Mail