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Article 14
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With the exceptions of futures commission merchants (FCM), proprietary trading of government bonds, foreign bond trading agency business, business with special approval granted by the FSC based on policy considerations, and business for which a permission for concurrent operation has been obtained prior to the issuance of these Standards, a financial institution that concurrently engages in securities business shall restrict such concurrent operations to only one of the following:
- Securities underwriting.
- Securities dealing.
- Securities trading brokerage or intermediary services.
- Securities underwriting and dealing.
- Securities dealing and securities brokerage at its place of business.
An FCM that concurrently engages in securities business shall restrict such concurrent operations to only one of the following:
- Securities dealing.
- Securities trading brokerage or intermediary services.
- Securities dealing and securities trading brokerage or intermediary services.
An FCM that is concurrently operated by another business may not apply to concurrently engage in securities business.
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