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Relevant Laws

Title：Standards Governing the Establishment of Securities Firms (2021.05.06)
Article 17     In filing an application with the FSC for the permit to concurrently operate securities business, a financial institution shall submit all of the following documentation:
  1. The application (Annex 6).
  2. A photocopy of its business license.
  3. Articles of incorporation or equivalent documentation.
  4. A business plan which specifies: the principles of business operation; the division of internal organization; the employment of personnel; the description of facilities; and its financial projection for the next 3 years.
  5. The minutes of the Board of directors.
  6. The list of directors and supervisors.
  7. A statement declaring the inapplicability of Article 53 of the Act in respect of its directors and supervisors (Annex 5).
  8. The certification of the deposit made under Article 7.
  9. The documentation affirming the availability to the computer linkage as required under Article 8.
  10. Other documents that the FSC may so require.
    An FCM that applies to concurrently engage in securities business, in addition to submitting the documentation of the preceding paragraph, shall also submit the most recent CPA-audited and attested financial report, and operating rules regarding risk differentiation and conflict of interest for securities and futures business operations.
Article 18     The application by a financial institution for a securities business operation license shall be filed within 6 months from the date of the permit issued by the FSC and all of the following documentation shall be submitted:
  1. The application (Annex 7).
  2. The system of internal control for the securities business.
  3. The list of managerial and associated persons with certification of their qualifications.
  4. A statement declaring the inapplicability of Article 53 of the Act in respect of its managers (Annex 5) .
  5. The documentation certifying the compliance with Article 6.
  6. The documentation certifying the deposit of operation bond.
  7. The contract affirming the availability to utilize the computer linkage facilities under Article 8.
  8. Other documents that the FSC may so require.
    The permit for the operation of securities business shall be revoked if the said financial institution fails to apply for the license within the duration prescribed in the preceding paragraph. The duration prescribed in the preceding paragraph may be extended, however, should the said financial institution apply to the FSC, with just cause, prior to the expiration of the duration. Such an extension shall not be more than 6 months and may be applied only once.