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Article 10
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Within 6 months from the date of the permit issued by the FSC for the establishment of a securities firm, the incorporation registration of the securities firm shall be completed and all of the following documentation shall be submitted to the FSC to apply for a business license:<br/>1. The application form (Annex 4).<br/>2. Photocopy of the company license.<br/>3. Articles of incorporation.<br/>4. Internal control system.<br/>5. Balance sheet from within 1 month preceding the date of application.<br/>6. List of shareholders.<br/>7. List of directors and minutes of the board of directors.<br/>8. List of supervisors.<br/>9. List of managerial officers and associated persons with certification of their qualifications.<br/>10. Statement declaring that none of the circumstances in Article 53 of the Act exists in respect of the directors, supervisors, and managerial officers.<br/>11. Documentation certifying compliance with Article 6.<br/>12. Documentation certifying the deposit of the operation bond.<br/>13. Contract affirming the availability to utilize the computer linkage facilities under Article 8.<br/>14. Other documents as required by the FSC.<br/>The permit for the establishment of a securities firm shall be voided if the securities firm fails to apply for the license within the period prescribed in the preceding paragraph. The period prescribed in the preceding paragraph may be extended, however, if the securities firm applies to the FSC, with good cause, prior to the expiration of the period. Such an extension shall not exceed 6 months and may be granted only once.
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