Standards Governing the Establishment of Futures Commission Merchants Article 16

In applying for approval for the establishment of a branch office, a futures commission merchant shall furnish to the FSC the following documents:1. an application form;2. articles of incorporation;3. a business plan stating: business operation principles of the branch office; the method of risk management; 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 year4. the minutes of its board of directors meetings;5. [a description of] the internal control system; provided, however, that this requirement does not apply when the internal control system is the same as that of the branch division for which the most recent application was made;6. the financial report for the most recent period, audited and attested by a certified public accountant;7. documents showing compliance with Article 13, paragraph 2, subparagraph 6;8. documents showing compliance with Article 13, paragraph 2, subparagraph 7;9. a case check-list form; and10. other documents required by the regulations of the FSC.