Article NO. Content

Title:

Corporate Governance Best-Practice Principles for Securities Firms 

Amended Date: 2019.01.14 
Categories: Corporate Governance
Article 23     Clear distinctions shall be drawn between the responsibilities and duties of the chairman of the board of a securities firm and those of its general manager.
    The chairperson shall not act as the general manager at the same time, unless otherwise approved by the competent authority in accordance with the Regulations Governing Responsible Persons and Salespersons of Securities Firms. If the chairman also acts as the general manager or they are spouses or relatives within one degree of consanguinity, it would be advisable that the number of independent directors be increased.
    Where a securities firm has set up a functional committee, it shall specify the powers and duties of the committee.