2014-09-29
Brokerages May Be Permitted to Assist in Opening Overseas Accounts
Domestic investors may soon be able to directly invest in the Shanghai and Hong Kong’s stock markets. The Chairman of Taiwan’s Financial Supervisory Commission (FSC) stated that there would be a onemonth
research and discussion at the Securities and Futures Bureau (SFB) to decide whether to assist investors in opening overseas accounts. If an overseas branch of the brokerage is opened, it will also be able to assist local clients in opening Taiwan securities accounts.
The SFB indicated that it will research two issues in this matter. The first issue is whether the foreign supervisory authorities will allow their domestic brokerages to assist clients in opening transaction
accounts in overseas branches. The other is whether Taiwan will follow if foreign brokerages can assist branches in other areas in opening overseas accounts.
The brokerages stated that because the domestic brokerages’ branches are mostly in Hong Kong, if the FSC allows domestic brokerages to assist clients in opening transaction accounts at overseas branches, domestic investors may invest in China and Hong Kong’s stock market.
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