Standards Governing the Establishment of Securities Investment Consulting Enterprises Article 21

If a securities broker or futures broker concurrently operating a SICE that conducts discretionary investment business files an application pursuant to the preceding Article, it shall, within 6 months from the day the FSC grants permission, apply to the FSC for re-issuance of a business license for the branch unit, by filling out and submitting an application form, together with the following documents:1. A register of qualified associated persons in the branch unit intended to engage in promotion and solicitation for discretionary investment business, issued by the SITCA after reviewing their qualifications, together with documentary proof of their qualifications.2. Written statement(s) that none of the circumstances in Article 68 of the SITC Act exists with respect to any managerial officer, department supervisor, or associated person of the branch unit.3. A written statement that the application form and its attachments contain no misrepresentations or nondisclosures.The permission granted to the securities broker or futures broker for the branch unit to engage in promotion and solicitation for discretionary investment business shall be revoked if it fails to apply for re-issuance of a business license for the branch unit within the period set out in the preceding paragraph. Notwithstanding the foregoing, if there is legitimate reason, an application may be filed with the FSC before expiration of that period for a maximum extension of 3 months, one time only.