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Article 29
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A securities firm may disclose on the trading platform the basic information of an issuer and information related to the fundraising case only after performing due diligence and confirming that the issuer meets all of the following conditions:
- The issuer has established an internal control system and implements it effectively.
- The accounting treatment complies with the Business Entity Accounting Act; however, if the competent authority has made other provisions, those provisions shall be followed.
- There is no record of any material instance of dishonoring of a negotiable instrument of, or violation of the Tax Collection Act by, or any material litigation concluded within the past 2 years or still pending that calls into question the integrity and good faith of, the issuer or any of its directors, supervisors, or general manager.
- The legality of the fundraising items and of the business items operated by the issuer.
- The fundraising plan and its effects/benefits are necessary, reasonable, and feasible.
- Any programmed auto execution that is done with respect to the security tokens offered is consistent with the description in the prospectus.
- Any other matters as required by the TPEx.
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