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For an application for a securities firm's branch unit to conduct business set out in Point 2, paragraph 1, subparagraph 2 herein, the securities firm shall submit the application, together with following documents, to the TWSE, which shall review them and forward a report to the FSC for approval:
- Documentary proof of that the securities firm's head office has obtained the approval from the competent authority to operate wealth management and trust businesses.
- Minutes of the meeting at which the board of directors passed the resolution to apply to operate this line of business.
- Documentary proof of the effectiveness of the internal control system and risk management culture, passed by resolution of the board of directors:
- The securities firm has specifically corrected any material defects in internal controls.
- The securities firm has properly handled customer complaint cases and maintains good quality in treating customers fairly.
- The board of directors and senior management personnel effectively implement corporate governance and take measures to enhance the effectiveness of the risk management culture.
- Business plan, with content including the following items:
- Business planning: the trust business activities, types of trust business, and operational procedures and risk management for operating this line of business.
- Accounting system.
- Internal control system and internal audit system.
- Matters concerning protecting the rights and interests of customers.
- Business operation capability and investment of resources: staffing and equipment assessment (including information systems), plans for professional talent development and training for the next three years, salary and compensation incentives and performance evaluation system.
- A list of personnel that operate and manage trust business, and documentary proof of their qualifications.
- A written statement of the non-existence of the circumstances listed in Article 2 of the Regulations Governing Expertise or Experience with respect to the responsible person of the branch unit.
- Other documents as required by FSC regulations.
Where the head office and a branch unit of a securities firm simultaneously apply for the approval to conduct the business under the preceding paragraph, they may consolidate the identical application documents.
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