Standards Governing the Establishment of Futures Advisory Enterprises Article 4

A futures broker or a managed futures enterprise that concurrently operates a futures advisory enterprise shall establish a department exclusively responsible for such operations and appoint a person exclusively responsible for managing such operations.Where a securities broker or a securities investment consulting enterprise concurrently operates a futures advisory enterprise, its head office shall establish an independent department exclusively responsible for its advisory business and appoint a director and associated persons whose sole responsibility is the operation of that department.For a securities broker that has received approval to engage in wealth management business, the independent department exclusively responsible for futures advisory business that, pursuant to regulations, is to be established for the futures advisory enterprise it concurrently operates may be merged with the wealth management business department.A sufficient number of competent managers and associated persons who meet the qualifications set forth in the Regulations Governing Futures Advisory Enterprises shall be appointed to the department for operation of futures advisory business of a futures broker, managed futures enterprise, securities broker, or SICE as required according to the scope of business, operational conditions, and internal control management system of the given enterprise.