Laws and Regulations Database of the Central Bank of the Republic of China(Taiwan)

After consultation with the FSC, the Bank may revoke or void the license of any foreign exchange broker if any of the following violations has occurred:

1.After being approved by the Bank, the foreign exchange broker fails to complete the establishment and registration of a company or the branch office of a foreign company in Taiwan, and apply for business license within the prescribed period specified in Article 7;

2.The foreign exchange broker fails to begin business operation within six months after being issued a business license by the FSC;

3.The foreign exchange broker seriously violates the provisions of these Regulations, or fails to improve within the period designated by the Bank;

4.After being issued a business license, the foreign exchange broker is found to have submitted false information that constitutes a serious violation in its application; and

5.The foreign exchange broker suspends its operation, is dissolved, declares bankruptcy, or undergoes reorganization; and

6.There is evidence indicating that the foreign exchange broker's business operations may be unsound, or that it is unable to meet financial policy requirements.