(Conduct Prohibited by Securities Firms)
Except with the approval of the Competent Authority, a securities firm may not engage in the following types of business:
Regulations governing the qualifications, personnel, operations, and risk management of a securities firm applying for approval to engage in related business in accordance with the preceding paragraph shall be prescribed by the Competent Authority.
- Providing margin purchases or short sales for securities transactions.
- Acting as an agent in margin purchases or short sales for securities transactions.
- Borrowing or lending securities, or acting as an agent or intermediary in the borrowing or lending of securities.
- Borrowing or lending money in connection with securities business, or acting as an agent or intermediary for such borrowing or lending of money.
- In connection with securities business, accepting a commission from a client to act as depository or invest the client's funds.