Regulations Governing the Operation of Securities Introducing Broker Business by Futures Commission Merchants Article 15

A futures commission merchant that applies for permission to operate securities introducing broker business may simultaneously apply for operation of securities introducing broker business by a branch unit.A futures commission merchant that has already obtained permission to operate securities introducing broker business and applies for permission for a branch unit to operate securities introducing broker business shall comply with Article 12. When a futures commission merchant fails to meet a condition under Article 12, paragraph 1, subparagraphs 1 to 5, but concrete improvement has been made and has been approved by the competent authority, the futures commission merchant may be exempted from the restrictions of those subparagraphs.