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Article 16
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A securities firm, unless it is concurrently operated by a financial institution and subject to other relevant laws or regulations, may not purchase real property for non-operating purposes. However, this restriction shall not apply to a securities firm that holds real property for non-operating purposes as a result of a merger, acquisition, branch office or simple branch office closure, change in or reduction of places of business, or as a result of conducting business, or as approved by the FSC. The sum total held of real property and equipment for operating purposes and real property for non-operating purposes shall not be more than 60 percent of its total assets.
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