Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises Article 5-2

A chief compliance officer shall possess the qualifications specified in Article 3-1, paragraph 1 and be assigned a position at a level at least equivalent to department supervisor.No person conducting any of the business operations of a SICE under Article 2, paragraph 2, subparagraphs 1 to 6 and subparagraph 9 may concurrently hold a position in the SCIE to conduct the business operations of legal compliance.A chief compliance officer or associated person who fails to meet the specified qualification requirements or to comply with restrictions on concurrent holding of positions shall correct the failure by 30 June 2008, failing which, such a person may not serve in that position and the SITCA shall void the registration of that person.