| Article 33-1 |
A foreign securities firm intending to establish a representative office in the ROC shall meet both of the following qualifications:
- The applicant possesses sufficient experience in international securities business.
- The applicant has not been sanctioned suspension of business or more severe penalty administratively by its home country's securities regulatory authorities within the most recent year.
The sufficient experience in international securities business referred to in subparagraph 1 of the preceding paragraph has the same requirements set in Article 28, subparagraph 2.
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