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Article 4
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To apply to operate the business of proprietary trading of security tokens, the applicant shall apply to establish a securities firm under Articles 9 and 10 of the Standards Governing the Establishment of Securities Firms, or to increase the type of business or business operations under Chapter VI of the Standards Governing the Establishment of Securities Firms, and submit the application documents to the TPEx for it to review and then forward to the competent authority for approval.
After a securities firm has obtained approval from the competent authority under the preceding paragraph, it shall submit an application (Attachment 1) stating all the required information, accompanied by the documents required to be submitted therewith, to the TPEx, to apply to sign with the TPEx a Contract for the Operation by a Securities Firm of the Business of Proprietary Trading of Security Tokens (Attachment 2).
If a securities firm that has signed a contract with the TPEx under the preceding paragraph encounters or will encounter any of the events required to be reported under Article 4, paragraph 1 of the Regulations Governing Securities Firms, it shall file a report with the TPEx for forwarding to the competent authority, unless otherwise provided by law or regulation.
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