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Article 4
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A company whose stock is listed on the stock exchange or traded on the OTC market and that handles its own shareholder services, or a shareholder services agent of such a company, for the handling of shareholder services, shall allocate a sufficient number of personnel, provide them with appropriate training and management, and meet the following conditions:
- At least 1 of the shareholder services agent's executive personnel must possess at least 5 years of practical experience in shareholder services operations; at least one-third of its associated persons handling shareholder services, and no less than 5 in all, must meet one of the following criteria. However, this ratio requirement does not apply if at least 20 of its associated persons handling shareholder services meet the criteria:
- Have three or more years of practical experience in shareholder services.
- Are an agent or senior agent of a securities firm.
- Have successfully passed the shareholder services examination held by an institution designated by this Commission.
- If a company handles its own shareholder services, at least 1 of its executive personnel must possess at least 5 years of practical experience in shareholder services operations, and at least 5 of its associated persons handling shareholder services shall meet one of the qualifications set out under the preceding subparagraph.
Personnel of a shareholder services agent who are counted toward the minimum standards for numbers of personnel set forth in the preceding paragraph shall be full-time employees. At a company that handles its own shareholder services, at least three of the personnel counted as meeting the qualifications of the preceding paragraph shall be full-time employees, and the remainder may be part-time employees.
The associated persons handling shareholder services shall participate in education and training courses related to shareholder services that are held by the institution designated by this Commission, in accordance with the number of such course hours as required by that institution.
If a company handles shareholder services for itself or for another company whose stock is listed on the stock exchange or traded on the OTC market, it shall report the basic information of the executives and associated persons for such services to the institution designated by this Commission before such employees carry out their duties, and file a summary report of any changes thereto by the 15th day of the month following the month in which such changes occurred.
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