Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants Article 8

The registration and change of a responsible person or an associated person of an FCM shall be recorded with the CNFA through the FCM where such person is employed. The said persons shall not commence duties without registration.A person to whom any of the following conditions apply shall not be registered under the preceding paragraph. If such person has been registered, the registration shall be voided:1. The person falls under any of the categories listed under Article 28 of the Act.2. The person does not possess the qualifications or meet the requirements set forth under Article 3, Article 5, Article 5-1, or Article 6.3. The person has violated Article 7.4. The person has been proven to have engaged or been involved in other dishonest or improper activities, such that he/she is demonstrably unsuitable to be a responsible person or associated person.If there is any change of the responsible person or an associated person of an FCM, within 5 days of the change such FCM shall report it to the CNFA and replace or surrender the work certificate. Before registering the change, such FCM cannot be held harmless for the acts of the said person.