Regulations Governing Futures Trust Enterprises Article 49

Except as otherwise provided by law or regulation, the general manager of a futures trust enterprise and all assistant general managers, deputy assistant general managers, and managers, of its business departments, as well as its branch unit managers, department heads of business departments, and associated persons shall serve as full-time employees.The futures trust enterprise shall register with the Association any person who will serve as a responsible person or will serve in any of the positions recited in the preceding paragraph and any personnel change in such a position; no person may conduct business operations in such a position unless registered.The registration under the preceding paragraph may not be made with respect to a person to whom any of the following circumstances applies, and if already made, shall be voided:1. Any circumstance set out in Article 5 of the Standards Governing the Establishment Futures Trust Enterprises.2. Any non-compliance with the qualification requirements hereunder.3. Violation of any provision of Article 50, paragraphs 3 to 6 hereof.The futures trust enterprise shall file any personnel change under paragraph 2, and carry out procedures for renewal or surrender of work permit, with the Association within 5 business days starting from the next day of such change, and shall remain liable for the conduct of any such person before the registration of the change.The term "business department" in paragraph 1 means a department conducting any of the types of business under Article 4, subparagraphs 1 to 7 and 9.