Section 2 Organization and Personnel |
| Article 23 | An OTC trading enterprise shall draft an organizational charter covering matters such as its internal organization, staffing, and position titles, and submit it, and any amendments thereto, to the Competent Authority for approval.
|
|
| Article 24 | An OTC trading enterprise shall draft human resource management rules regarding personnel hiring, salary levels, compensation, attendance, incentives and penalties, training, advanced study, performance, retirement, severance, and disability and bereavement benefits, and submit them, and any amendments thereto, to the Competent Authority for approval.
|
|
| Article 25 | When there is any change in the directors, supervisors, or managerial officers of an OTC trading enterprise, it shall report such change to the Competent Authority within five days after the occurrence of the fact or change therein; any changes in its associated persons shall be compiled and submitted in a monthly summary report to the Competent Authority for recordation.
|
|
| Article 26 | No director, supervisor, or managerial officer of an OTC trading enterprise may fall into any category specified in a subparagraph of Article 53 of the Act; none of its associated persons may fall into any category specified in a subparagraph of Article 54 of the Act.
|
|
| Article 27 | No managerial officer or associated person of an OTC trading enterprise may in any fashion hold any concurrent position or honorary position at an OTC-listed company, emerging stock company, or securities firm.
|
|
| Article 28 | When a managerial officer or associated person of an OTC trading enterprise is remiss in or fails to faithfully carry out business matters entrusted to them, the enterprise shall dismiss such person from their position, terminate their employment, or make another appropriate disposition.
|
|
| Article 29 | No director, supervisor, managerial officer, or employee of an OTC trading enterprise may do any of the following acts:
- Directly or indirectly engage in securities trading or financial product transactions using knowledge gained in the performance of duties.
- Divulge any secret learned in the performance of duties.
- Solicit, agree to accept, or accept any improper benefit for an action performed in the course of duties or in breach of duties.
- Fail to recuse oneself when performance of duties involves any interest of one's own.
- Commit any misrepresentation, fraud, nondisclosure, omission, or other misleading conduct in the conduct of OTC trading of securities or other financial products.
- Violate any law or regulation or the Competent Authority's requirements by commission or omission.
The provisions of paragraph 1 apply mutatis mutandis to the exercise of duties by the representative or designated representative of a director or supervisor that is a juristic person.
|
|