Standards Governing the Establishment of Securities Investment Consulting Enterprises Article 24

A trust enterprise applying to concurrently operate discretionary investment business or securities investment consulting business shall meet the following conditions:1. Has net worth per share of not less than par value, as shown in the CPA-audited and attested financial report for the most recent period. However, this restriction shall not apply in the case of a trust enterprise concurrently operated by a bank whose ratio of regulatory capital to risk-weighted assets for the most recent year satisfies the provisions of Article 5 of the Regulations Governing the Capital Adequacy and Capital Category of Banks.2. Has not, during the last half year, been sanctioned under Article 103, subparagraph 1 of the SITC Act, Article 66, subparagraph 1 of the Securities and Exchange Act, or Article 100, subparagraph 1 of the Futures Trading Act, and has not on 3 or more occasions been given an official reprimand, or ordered to achieve improvement within a specified period of time, in accordance with Article 44of the Trust Enterprise Act.3. Has not, during the last 2 years, been sanctioned under Article 103, subparagraphs 2 to 5 of the SITC Act, Article 66, subparagraphs 2 to 4 of the Securities and Exchange Act, Article 100, subparagraphs 2 to 4 of the Futures Trading Act, or Article 44, subparagraphs 1 to 3 of the Trust Enterprise Act.4. If it has been sanctioned under any provisions of the preceding two subparagraphs and ordered to achieve improvement, concrete improvement has been achieved.