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Article 38
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A securities firm or a financial institution concurrently operating securities business applying for the increase of the type of business shall meet all of the following requirements:
- The applicant has not been issued a warning by the FSC under Article 66, subparagraph 1 of the Act within the most recent 3 months.
- The applicant has not been sanctioned by the FSC's order under Article 66, subparagraph 2 of the Act to dismiss its directors, supervisors or managers within the most recent 6 months or order under Article 100, paragraph 1, subparagraph 2 of the Futures Trading Act to replace its responsible person or other related personnel.
- The applicant has not been suspended operation by the FSC under Article 66, subparagraph 3 of the Act within the most recent 1 year.
- Any portion of the applicant's business licenses has not been revoked by the FSC under the Act within the most recent 2 years.
- The applicant has not been restricted or suspended to trade under the by-laws of the TWSE, TPEx, or TAIFEX within the most recent 1 year.
- The Capital Sufficiency ratio of the securities firm is not lower than 150 percent.
If a securities firm does not meet a requirement set forth in any of subparagraphs 1 to 5 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the securities firm may be exempted from the relevant requirement.
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