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Article 14
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A futures commission merchant applying to operate securities introducing broker business shall duly amend its articles of incorporation and complete an amended company registration for the operation of securities introducing broker business within six months from the date the competent authority grants permission, and shall apply to the competent authority for a permission license by filling out and submitting an application form together with the following documents:
- The applicant's articles of incorporation and documentation showing its amended company registration.
- A photocopy of the futures commission merchant's permission license.
- The internal control system for the operation of securities introducing broker business.
- A list of managerial officers and associated persons who will conduct the introducing broker business and documentation of their qualifications.
- A written declaration that none of the circumstance under Article 53 of the SEA applies with respect to any managerial officer who will conduct the introducing broker business.
- Documentation of submission of the operating bond in accordance with the requirements of Article 21.
- Documentation showing that the applicant has the data transmission facilities necessary to operate securities introducing broker business.
- Documentation of the mandating securities firm's agreement to deposit the additional contributions to the clearing and settlement fund pursuant to Article 8, paragraph 2.
- A letter of consent stating that the applicant agrees to allow audits of its finances, operations, and other necessary matters by the competent authority, the TWSE, the GTSM, or institutions designated by the competent authority, and to provide explanations and documents requested in connection with an audit by any of the aforementioned organizations.
- Documentation showing compliance with Article 12, paragraph 1, subparagraph 5.
- Documentation showing compliance with Article 10.
- A case checklist.
- A written declaration that the application form and attached documents contain no misrepresentation or nondisclosure.
If a futures commission merchant fails to apply for the above permission license within the period prescribed in the preceding paragraph, its permission to operate securities introducing broker business shall be revoked, provided that with legitimate reason it may file an application with the competent authority for an extension before expiration of the period. Such extension may not exceed six months and will be granted only once.
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Article 17
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A futures commission merchant applying for a branch unit to operate securities introducing broker business shall apply to the competent authority for a permission license within six months from the day the competent authority grants permission by filling out and submitting an application form together with the following documents:
- Photocopies of the permission license of the futures commission merchant's branch unit.
- A list of managerial officers and associated persons who will conduct the introducing broker business and documentation of their qualifications.
- A written declaration that none of the circumstances under Article 53 of the SEA applies with respect to any managerial officer who will conduct the introducing broker business.
- Documentation showing deposit of the operating bond in accordance with of Article 21.
- Documentation showing that the branch unit has the data transmission facilities necessary to operate securities introducing broker business.
- Documentation of the mandating securities firm's agreement to deposit the additional contribution to the clearing and settlement fund pursuant to Article 8, paragraph 2.
- A letter of consent stating that the branch unit agrees to allow audits of its finances, operations, and other necessary matters by the competent authority, the TWSE, the GTSM, or institutions designated by the competent authority, and to provide explanations and documents requested in connection with an audit by any of the aforementioned organizations.
- Documentation of compliance with Article 12, paragraph 1, subparagraph 5 of these Regulations.
- Documentation of compliance with Article 10 of these Regulations.
- A case checklist.
- A written declaration that the application form and attached documents contain no misrepresentation or nondisclosure.
If a futures commission merchant fails to apply for the permission license within the period prescribed in the preceding paragraph, permission for operation of securities introducing broker business by its branch unit shall be revoked, provided that with legitimate reason, it may file an application with the competent authority for an extension before expiration of the period. Such extension may not exceed six months and will be granted only once.
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