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Article NO. Content


Regulations Governing Securities Dealers Associations  CH

Amended Date: 2010.01.06 
Article 12     In the event of any of the following circumstances, a securities dealers association shall, in addition to promptly taking action to handle the situation, file a report with the FSC for recordation:
  1. Where the securities dealers association, or a responsible person or associated person of its member is involved in a lawsuit arising from securities business operations, or has been subject to a judgment rendered in litigation, or becomes bankrupt or is subject to compulsory execution as a debtor, or has had a check rejected or has been blacklisted by a financial institution, or has been discharged from his or her position under the Act.
  2. Matters related to the handling of cases in which members or their representatives violate the Act or other relevant laws or regulations, the articles of association of the securities dealers association, self-regulatory agreements or relevant self-regulatory rules, or decisions of a general meeting of the Association or of the board of directors of the Association.
  3. Occurrence of a lawsuit as a result of the engagement by a member in business related to securities.
  4. The entry or withdrawal of members.
  5. The results of reviews of members' financial reports.
  6. Decisions of the board of directors.
  7. Any other matters that shall be reported under rules of the FSC.
    With respect to subparagraphs 1 through 3 in the preceding paragraph, the securities dealers association shall report to the FSC within five days of becoming aware of the occurrence of the event, or of the completion of its taking of action to deal with the matter. With respect to subparagraphs 4 though 6, the securities dealers association shall report the results of implementation monthly to the FSC.