A securities introducing broker shall register its responsible person and associated persons, and file any change in those positions, with the TWSE or GTSM; an associated person may not execute his or her duties without being registered.
Under any of the following circumstances, the TWSE or GTSM shall refuse to register a responsible person or an associated person of a securities introducing broker, or shall void their prior registration:
In the event of a change of responsible person or associated person at a securities introducing broker, the securities introducing broker shall report the change to the TWSE or GTSM for registration within five days after the change. Work permits for associated persons shall be re-issued or surrendered, and the securities introducing broker will remain liable for the conduct of the associated person prior to registration of the change.
- Any of the conditions under Article 53 of the SEA applies with respect to a responsible person.
- Any of the conditions under Article 54, paragraph 1 of the SEA applies with respect to an associated person, or an associated person does not meet the qualifications of Article 29, paragraph 3 of these Regulations.
- Any of the conditions under Article 54, paragraph 1 of the SEA applies with respect to an associated person who serves as the supervisor of a futures commission merchant's dedicated department for the operation of securities introducing broker business, or such an associated person does not meet the qualifications of Article 29, paragraph 4 of these Regulations.
- Violation of Article 32 of these Regulations.
- Failure to successfully complete pre-job training or on-the-job training in accordance with regulations.
- There is factual proof that the responsible person or associated person has been engaged or involved in other dishonest or improper activities, demonstrating his or her unsuitability for the position.