Regulations Governing Futures Commission Merchants Article 56

In the event that a futures commission merchant experiences bankruptcy, dissolution, suspension of business operations, or circumstances under which acts or regulations require suspension of the acceptance of orders from futures traders, the FSC may order it to transfer all the accounts related to its futures traders to another futures commission merchant which has entered into a succession contract with it (unless such futures commission merchant is a clearing member, in which case the provisions of Article 54 of the Act shall govern).Upon receiving the FSC order referred to in the preceding paragraph, unless the futures commission merchant has and reports a legitimate reason to the FSC and receives approval therefrom, it shall transfer to the other futures commission merchant referred to in the preceding paragraph the balances of the futures traders' deposits of cash and securities in margin accounts, the actual marginable value of securities, and the itemized trading statements of such futures traders within 2 business days. Any costs associated with the transfer shall be borne by the transferring futures commission merchant.Within 2 months after commencement of business, a futures commission merchant shall submit to the FSC for recordation a photocopy of a contract with another futures commission merchant under which the other merchant would assume the accounts related to its futures traders in case of occurrence of the event referred to in paragraph 1 above.