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Article NO. Content


Regulations Governing the Operation of Securities Introducing Broker Business by Futures Commission Merchants  CH

Amended Date: 2014.05.29 
Article 18     Under any of the following circumstances, the competent authority may deny approval to an application by a futures commission merchant to operate securities introducing broker business:
  1. The content or information in the application documents is found to contain a misrepresentation.
  2. The business plan or the internal control system is not concrete enough or cannot be effectively executed.
  3. Business operations have not been effectively carried out in accordance with internal control systems.
  4. Any of the circumstances of Article 53 of the SEA applies with respect to a director, supervisor, or a managerial officer that conducts the securities introducing broker business.
  5. When otherwise deemed necessary to protect the public interest.