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Relevant Laws

Title：Standards Governing the Establishment of Securities Firms (2021.05.06)
Article 9     In filing an application with the FSC for the permit to establish a securities firm, the promoters shall submit all of the following documentation:
  1. The application form (Annex 1).
  2. Articles of incorporation.
  3. 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.
  4. The minutes of the promoters' meeting.
  5. The list of promoters (Annex 2).
  6. A statement from the promoters declaring the inapplicability of Article 4 (Annex 3).
  7. The certification of the deposit made under Article 7.
  8. The documentation affirming the availability to the computer linkage as required under Article 8.
  9. Other documents that the FSC may so require.
Article 10     The incorporation registration of a securities firm shall be completed within 6 months from the date of the permit issued by the FSC and all of the following documentation shall be submitted to the FSC to apply for a securities business operation license:
  1. The application form (Annex 4).
  2. A photocopy of the company license.
  3. Articles of incorporation.
  4. The system of internal control.
  5. The balance sheet 1 month preceding the date of application.
  6. The list of shareholders.
  7. The list of directors and the minutes of the board of directors.
  8. The list of supervisors.
  9. The list of managerial and associated persons with certification of their qualifications.
  10. A statement declaring the inapplicability of Article 53 of the Act in respect of directors, supervisors, and managers.
  11. The documentation certifying the compliance with Article 6.
  12. The documentation certifying the deposit of operation bond.
  13. The contract affirming the availability to utilize the computer linkage facilities under Article 8.
  14. Other documents that the FSC may so require.
    The permit for the establishment of a securities firm shall be revoked if the said securities firm 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 securities firm 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.