Regulations Governing Responsible Persons and Associated Persons of Securities Firms Article 21-1

Associated persons of a securities firm who engage in the business of proprietary trading of security tokens (virtual currencies that have the nature of securities), equity crowdfunding business, brokerage business for trading and exchange of beneficial certificates of funds, or proprietary trading of specific foreign bonds shall follow applicable rules adopted by the TPEx.Responsible persons and associated persons of a securities firm who engage only in security token proprietary trading business, equity crowdfunding business, brokerage business for trading and exchange of beneficial certificates of funds, or proprietary trading of specific foreign bonds are not subject to the provisions of Articles 8 to 11-2 and Articles 15 to 17.