Taiwan – TSA US Stock Acquisition / Takeover Rules

Taiwan – TSA US Stock Acquisition / Takeover Rules

On 10 January 2023, TAI TSA said TAI FSC amended rules on foreign securities.

  • TAI TSA informed members re TAI FSC amendment on regulations governing securities firms accepting orders to trade foreign securities to protect investors' interest.


  • Considered differences between public acquisitions of U.S. stocks and mini-tender offers where buyer reserves right to extend acquisition / takeover time/revise price/limit exit.
  • May cause damage to rights/interests of investors; amend rules to protect investors.


  • Securities firms are limited to public acquisitions re tender offer notifications.
  • If investors request to participate non-public acquisition, the firm shall disclose risks.


  • The amendment is effective immediately.