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Article 3
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A securities firm engaging in the business contemplated by these matters shall comply with its standard directions on internal control systems, the Personal Data Protection Act, anti-money laundering and countering of terrorist financing related regulations, and shall formulate operating and processing procedures and risk control measures including but not limited to the following, with examination records retained of the related control mechanism:
- A third-party authentication institution providing mobile ID service shall be required to confirm that a service number that is subject to a principal’s mobile ID conforms to the definition in paragraph 2 of the preceding article, and consent to the provision of the personal data of a service number subscriber to a third person shall be procured.
- It shall be ensured that a principal has read and agrees to the terms of the mobile ID service user agreement and privacy notice before mobile ID may proceed.
- It shall be ensured that a principal has been ID-authenticated by mobile ID, has read and agrees to the terms of the engagement contract, the statement on the collection, processing, and use of personal data, and the risk disclosure statement, has uploaded an image file of the national ID card, and has filled in its personal particulars.
- The opening of accounts by and data screening of a principal shall conform to the securities firm’s standard directions on internal control systems CA-11110: Regular Trading Accounts: Account Opening and Screening Procedure.
- Prior to a principal’s execution of an account opening contract, the securities firm shall, as secondary verification, send a One Time Password, OTP, by text or make a personal telephone call to validate the principal’s acts, and the procedures in the preceding four subparagraphs shall be confirmed completed, before the account opening contract may be executed in accordance with the Electronic Signatures Act. The account opening application will be terminated in the event of any data discrepancy.
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