Standards Governing the Establishment of Securities Investment Consulting Enterprises Article 33

A futures trust enterprise applying to concurrently operate a SICE that conducts discretionary investment business shall meet the following conditions:1. Has obtained a permission license renewed by the FSC for concurrent operation of a managed futures enterprise.2. 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.3. Has not, during the last half year, been sanctioned under Article 103, subparagraph 1 of the SITC Act, or Article 100, paragraph 1, subparagraph 1 of the Futures Trading Act.4. Has not, during the last 2 years, been sanctioned under Article 103, subparagraphs 2 to 5 of the SITC Act, or Article 100, paragraph 1, subparagraphs 2 to 4 of the Futures Trading Act.5. If it has been sanctioned under any provisions of the preceding two subparagraphs and ordered to achieve improvement, concrete improvement has been achieved.