(16)Once approved and licensed a futures clearing house will be subject to the requirements set in the FTA and supervision by the FSC on an ongoing basis, as well as oversight by Taiwan’s central bank within the scope of the bank’s administrative matters. The FSC monitors futures clearing houses in Taiwan to ensure compliance with the applicable legal framework. The FSC has the comprehensive power under Articles 100 and 101 of the FTA to penalise futures clearing houses, including, among other things, the power to withdraw the approval and business license of futures clearing houses and the power to impose sanctions. Day-to-day supervision is conducted by the FSC in accordance with Article 4 of the FTA. The FTA gives the FSC strong powers to enforce its laws and rules in accordance with Articles 95 to 120 of the FTA. The FSC is empowered to conduct investigations into suspected violations of its rules, and has powers to conduct inspections, compulsorily obtain books and records and request futures clearing houses to amend their operating rules.