Newsletter
FOREIGN INSTITUTIONAL INVESTORS REQUIRED TO REPORT INFORMATION ON OVERSEAS DEPOSITORY RECEIPTS
The Securities and Futures Commission (SFC) of the Ministry of Finance on 13 May 1999 announced a requirement that foreign institutional investors, overseas Chinese residing in Taiwan and abroad, and foreigner nationals filing applications (and re-applications) to invest in Taiwan securities must report detailed information on Global or American Depository Receipt representing shares of a Taiwan public-issuing companies approved by the SFC that have been issued or will be issued by the applicants. In addition, applicants who have not issued Global or American Depository Receipts representing shares of a Taiwan public-issuing companies must provide declarations of non-issuance and agreed that upon their future issue of such depository receipts, they will file reports to the SFC within five days of the issuance.