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Article 16
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A futures commission merchant applying for permission for operation of securities introducing broker business by a branch unit shall apply to the competent authority for permission by filling out and submitting an application form together with the following documents:
- A business plan specifying the principles of the securities introducing broker business, internal organization and segregation of duties, personnel recruitment and training plans, and the condition of the site and facilities.
- The minutes of the relevant board of directors meetings showing the resolution to have a branch unit operate securities introducing broker business.
- The internal control system for the operation of securities introducing broker business by the branch unit, provided that the internal control system need not be submitted if it is identical to that submitted during the previous application for permission for operation of securities introducing broker business by a branch unit.
- The financial report for the latest fiscal period, audited and attested (or reviewed) by a certified public accountant.
- Documentation of compliance with Article 12, paragraph 1, subparagraph 5.
- A case checklist.
- A written declaration that the application form and attached documents contain no misrepresentation or nondisclosure.
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