To strengthen the anti-money laundering and countering terrorism financing (AML/CFT) infrastructure of transnational insurance enterprises; to cut off funding to terrorist acts, terrorist organizations or terrorism; to implement anti-money laundering measure; and to prevent a Taiwan branch established by a foreign insurance institution from becoming a channel for money laundering or terrorism financing, the Financial Supervisory Commission amended Article 9 of the Regulations for Establishment and Administration of Foreign Insurance Enterprises, per the letter Ref. No. Jin-Guan-Bao-Shou-Zi No. 10602541371 dated 20 April 2017. Accordingly, "documents issued by the competent authority in the applicant's host country certifying that there was no material deficiency in anti-money laundering and countering terrorism financing yet to be rectified in the past five (5) years" shall be included as one of the application documents for a foreign insurance institution applying to establish a branch within the territory of Taiwan to conduct insurance business.