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Article 66
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When the regulatory capital adequacy ratio of a securities firm falls below 100 percent, the FSC, in addition to handling the matter according to Article 64, subparagraphs 1 and 2 and Article 65, subparagraphs 1 and 2 herein, may also handle the matter in the following ways:
- Disapprove any of its applications for increasing the number of branch offices.
- If there has been no improvement made on the capital adequacy ratio at the end of the month that preceded the board of directors making proposal for distribution of profits, in addition that it shall be required to deduct from its undistributed profits those items to be set aside according to regulations, it shall further set aside the total amount as special reserve according to Article 41, paragraph 1 of the Act.
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