|
Article 58-1
|
If the business that an overseas branch office of a securities firm would handle under the local securities acts and regulations and customary business practices of the place surpass the business items of the head office, an application for approval, accompanied by the following documents, shall be filed with the FSC in advance:<br/>1. Business item particulars: including the products to be handled, types of transactions, and trading counterparts and markets.<br/>2. Local acts and regulations that must be complied with when engaging in such business.<br/>3. Minutes of the board of directors' (board of governors') meeting.<br/>4. Internal control and risk management plans.<br/>5. Legal opinion by a lawyer.<br/>6. Other documents that the FSC requires to be submitted.<br/>If there is any change in the FSC-approved business items of an overseas branch office of a securities firm, the change shall be reported to the Commission for recordation within 10 days from the day of the change.<br/>The overseas branch offices of a securities firm shall abide by the local securities acts and regulations of the place where they are conducting business.
|