Newsletter
Interpretation Letter Concerning Subparagraph 6 of Paragraph 1 of Article 146-1 of Insurance Act
The Financial Supervisory Commission ("FSC") issued an interpretation letter for Subparagraph 6 of Paragraph 1 of Article 146-1 of Insurance Act, Ref. No. Jin-Guan-Bao-Cai-Zi No. 10804502481 dated June 21, 2019. Relevant rules are as follows:
1. The "other marketable securities that the competent authority has granted approval for insurance enterprises to purchase" refers to Exchange Traded Notes (ETNs) whose issuance is approved by the FSC in accordance with law, with investors' subscriptions and redemptions settled in cash.
2. Aggregate amount of investment from insurers' fund in each ETN shall not exceed ten percent (10%) of total amount of its issued units.