Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants Article 11

The associated persons of an FCM shall participate in the pre-service and in-service training provided by the institution designated by the FSC. An FCM also may apply to conduct its own in-service training in accordance with the in-service training operation directions prescribed by the CNFA.A new associated person or an associated person returning to the position after 2 or more years since departing shall participate in pre-service training within 6 months after reporting to work. Associated persons currently on the job shall participate in in-service training every 2 years.An associated person who has undertaken the FSC-approved pre-service training with a passing grade within 6 months before becoming a qualified associated person, may be exempted from the pre-service training for new associated persons referred to in the preceding paragraph if, within 6 months after such person has become qualified as an associated person of an FCM, he or she is registered as an associated person and begins engaging in business activities.An associated person of another futures enterprise of a different type who has previously attended pre-service training for FCM associated persons is exempted from the requirement of attending pre-service training when, within 2 years after resigning, the person transfers into a position as an associated person of an FCM.After a person referred to in the preceding paragraph transfers into the position of an associated person of an FCM, the deadline by which the person shall attend in-service training shall be calculated beginning from the time when they previously attended pre-service or in-service training at the other futures enterprise.