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Article 23
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To establish a branch office, a securities firm shall submit all of the following documentation in an application to the FSC:<br/>1. The application for establishment of a branch office (Annex 8).<br/>2. Articles of incorporation or document equivalent to articles of incorporation.<br/>3. Business plan: specify the principles of business operation of the branch office; internal organization and division of labor; personnel recruitment; overview of the site and facilities; and financial forecasts for the next 3 years.<br/>4. Meeting minutes of the board of directors (or board of governors).<br/>5. Internal control system required under Article 11 (including that of the branch office).<br/>6. Documentation affirming the availability of the computer linkage as required under Article 22, paragraph 2 or 3.<br/>7. Other documents as required by the FSC.
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