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Article 18
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A securities firm operating the business of proprietary trading of security tokens shall conduct business in accordance with the principles of honesty and good faith.
A securities firm operating the business of proprietary trading of security tokens may not engage in any of the following conduct:
- Failing to duly fulfill its duty of due diligence when issuing security tokens for an issuer.
- Agreeing to or providing any specific interest or sharing of losses, or providing any judgment regarding whether a certain security token will rise or fall in price, or providing any investment recommendation, or providing investment consulting service, to induce investors to trade.
- Misappropriating security tokens or funds owned by a customer or temporarily kept under the custody of the securities firm in the course of business.
- Any agreement between the securities firm or any insider thereof and the issuer or relevant personnel thereof for purposes of improper profit.
- Any serving, by the securities firm or any insider thereof, in a position such as a director, supervisor, or managerial officer of an issuer that issues security tokens on the securities firm's trading platform; however, this rule does not apply in the case of security tokens issued by the securities firm itself on its trading platform.
- Concealing or omitting important financial or business information of an issuer that issues security tokens on its trading platform.
- Arranging for the issuance of security tokens for an issuer through any channel other than the securities firm's trading platform.
- Keeping custody of security tokens that are not issued or not traded through price negotiation on its trading platform.
- Concealing or making a false entry regarding information on any changes in security tokens.
- Any other matter injurious to the rights and interests of investors or in violation of any relevant law or regulation.
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