Standards Governing the Establishment of Futures Commission Merchants Article 11

For the approval of the establishment of futures commission merchants, the promoters shall apply to the FSC by furnishing the following documents:1. an application form;2. articles of incorporation;3. a business plan stating: business operation principles; risk management policies at its headquarters and branch offices; the division of responsibilities among the applicant's internal departments; personnel recruiting and training; a general description of its business facilities; and financial forecasts for the current year and the next year;4. minutes of promoters meetings;5. promoters list;6. a statement from each promoter declaring that he/she does not fall within any of the categories under Article 4;7. documents showing that the amount required under Article 10 has been deposited;8. a case check-list; and9. other documents required by the regulations of the FSC.