Regulations Governing Futures Trust Enterprises Article 47

An associated person who performs internal audit, legal compliance, or risk management functions at a futures trust enterprise shall possess one of the following qualifications:1. A person who has obtained qualification as a futures trading analyst in accordance with the Regulations Governing Managed Futures Enterprises, and has 1 year or more of relevant work experience in the field of securities, futures, or trust at a qualified institutional investor(s).2. A person who has obtained qualification as an associated person of a futures commission merchant in accordance with the provisions of Article 5, subparagraphs 1 to 3 of the Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants, and also has 3 years or more of relevant work experience in the field of securities, futures, or trust at a qualified institutional investor(s).3. A person who has graduated from a domestic or foreign university or higher educational institution recognized by the Ministry of Education, or holds an equivalent academic qualification, and has 2 years or more of audit work experience at a joint CPA firm meeting the conditions prescribed under the Regulations Governing Approval of Certified Public Accountants to Audit and Attest to the Financial Reports of Public Companies, and has obtained the qualification of a futures trading analyst or an associated person of a futures commission merchant as set forth in subparagraph 1 or the preceding subparagraph, and has completed 15 or more hours of futures-related professional courses offered by the CNFA— may engage in the business set forth in Article 4, subparagraph 5.The definition of "qualified institutional investor" as referred to in Articles 42 up to paragraph 1 of this article, and the scope of work thereof, shall be as announced by the competent authority.