Regulations Governing Managed Futures Enterprises Article 56

The chairperson of a managed futures enterprise may not concurrently serve as the general manager. This restriction, however, does not apply if any of the following circumstances exists and if approval is obtained from the competent authority:1. The managed futures enterprise will cease to exist as a result of a merger or dissolution, and its chairperson or general manager has resigned, been removed from office, or otherwise been unable to continue the performance of duties.2. The managed futures enterprise's business permission was voided by the competent authority, and its chairperson or general manager has resigned, been removed from office, or otherwise been unable to continue the performance of duties.3. Any other special cause.Managerial officers and associated persons at a managed futures enterprise shall hold their positions on a dedicated full-time basis, provided that this restriction shall not apply where the Competent Authority provides otherwise.Internal auditors of a managed futures enterprises may not conduct business outside the registered scope of their positions, nor may any other associated person concurrently hold the position of internal auditor. However, an internal auditor of another enterprise that concurrently operates a managed futures enterprise, and who possesses the qualifications specified in Article 50, may serve as an internal auditor of the managed futures enterprise on a concurrent basis.Unless otherwise provided by the Competent Authority, a supervisor or associated person of the dedicated department conducting discretionary futures trading business at a managed futures enterprise concurrently operated by an other-industry enterprise may not conduct business outside the registered scope of their positions nor may their positions be held on a concurrent basis by a supervisor or associated person of another department. However, a supervisor of a dedicated department conducting discretionary securities trading business who possesses the qualifications in Article 51, or an associated person of that department who possesses the qualifications in Article 49, may hold the same position on a concurrent basis in the dedicated department conducting discretionary futures trading business.The position of an associated person who makes trading decisions at a managed futures enterprise concurrently operated by an other-industry enterprise may be held on a concurrent basis by a fund manager of a futures trust fund offered to specific persons, by a fund manager of a privately placed securities investment trust fund, or by a managerial officer for discretionary securities investment.The position of personnel who execute trades at a managed futures enterprise that is concurrently operated by a futures trust enterprise or a securities investment trust enterprise (SITE) may be concurrently held by personnel who execute trades and investments or execute buying and selling at a futures trust enterprise or securities investment trust enterprise (SITE) and possess the qualifications in Article 49.The positions of promotion and solicitation personnel at a managed futures enterprise concurrently operated by an other-industry enterprise may be concurrently held by associated persons who possesses the qualifications in Article 49.The position of in-charge accountant at a managed futures enterprise concurrently operated by an other-industry enterprise may be concurrently held by an in-charge accountant of the other-industry enterprise.The general manager of an other-industry enterprise concurrently operating a managed futures enterprise may not concurrently hold a position as a supervisor of or person making trading decisions in the department dedicated to discretionary futures trading business.