Regulations Governing the Operation of Futures Introducing Broker Business by Securities Firms Article 28

The registration and change of the responsible persons, managerial officers, and associated persons of a futures introducing broker shall be recorded with the Futures Association or FSC-designated institution through the futures introducing broker. An associated person shall not perform his/her duties without registration.In any of the following events, the registration referred to in the preceding paragraph shall not be allowed; if any registration has been made, such registration shall be voided:1. occurrence of any of the conditions under Article 28 of the Act;2. failure to meet the qualifications/conditions under paragraph 3 of Article 26 herein;3. violation of Article 29 herein;4. there being facts showing that the person concerned has engaged or been involved in other dishonest or improper activities, which demonstrates that he/she is not suitable to act as the responsible person, managerial officer, or associated person.In the event that there is any change of its responsible person, managerial officer, and/or associated person, a futures introducing broker shall report to the Futures Association or FSC-designated institution within five (5) days of such change. The associated person concerned shall replace or surrender the work permit. Before the registration of the change is completed, the future introducing broker concerned shall not be released from the liability for the act of such person.