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Article 17
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In filing an application with the FSC for the permit to concurrently operate securities business, a financial institution shall submit all of the following documentation:
- The application (Annex 6).
- A photocopy of its business license.
- Articles of incorporation or equivalent documentation.
- 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.
- The minutes of the Board of directors.
- The list of directors and supervisors.
- A statement declaring the inapplicability of Article 53 of the Act in respect of its directors and supervisors (Annex 5).
- The certification of the deposit made under Article 7.
- The documentation affirming the availability to the computer linkage as required under Article 8.
- Other documents that the FSC may so require.
An FCM that applies to concurrently engage in securities business, in addition to submitting the documentation of the preceding paragraph, shall also submit the most recent CPA-audited and attested financial report, and operating rules regarding risk differentiation and conflict of interest for securities and futures business operations.
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