On September 9, 2016, the Financial Supervisory Commission (“FSC”) announced amendments to the “Regulations Governing Foreign Exchange Business of Banking Enterprise” and the “Regulations Governing Internal Operating Systems and Procedures for Banks Conducting Financial Derivatives Business”. Major amendments include: (1) An authorized bank providing complex and high risk derivatives products to investors other than professional institutional investors and high net worth corporate investors is required to make an application for approval, where such products have not been approved (or have been approved for less than six months) for these investors. (2) An authorized bank providing services regarding foreign exchange derivatives products (without involving NTD exchange rate) to professional institutional investors and high net worth corporate investors may report to the regulatory authority for its files after commencing such services.