Standards Governing the Establishment of Futures Commission Merchants Article 18

A futures commission merchant shall apply to the FSC for approval to establish foreign branch offices or representative offices by furnishing the following documents:1. an application form;2. articles of incorporation;3. a business plan stating: in the case of establishment of a branch office, business operation principles of the foreign 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 year; in the case of establishment of a representative office, organization of the representative office, and the matters that will be handled by such office;4. minutes of board of directors meetings;5. [a description of] the internal control system;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.