Regulations Governing the Preparation of Financial Reports by Futures Commission Merchants Article 2

The financial reports of a futures commission merchant (FCM) shall be prepared in accordance with these Regulations and other applicable laws and regulations. Matters not provided for therein shall be governed by generally accepted accounting principles (GAAP).The GAAP described in the preceding paragraph shall mean the following, as recognized by the Financial Supervisory Commission (FSC): International Financial Reporting Standards (IFRS), International Accounting Standards (IAS), and Interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC) or the former Standing Interpretations Committee (SIC).The accounting matters of an FCM based on which the financial reports are prepared shall be governed by the Business Accounting Act and other applicable laws and regulations.