A securities firm applying for operation of futures introducing broker business shall meet the following requirements:
1. has not received a warning from the FSC in accordance with subparagraph 1 of Article 66 of the Securities & Exchange Act in the last six (6) months,
2. no punishment has been imposed by the FSC in accordance with subparagraph 2 of Article 66 of the Securities & Exchange Act in the last six (6) months, under which the securities firm was ordered to discharge its director, supervisor, or manager;
3. has not been suspended from business operation by the FSC in whole or in part in accordance with subparagraph 3 of Article 66 of the Securities & Exchange Act in the last one (1) year;
4. has not been punished by the FSC in accordance with to the Securities & Exchange Act by revoking the permission for establishment of a branch office in the last two (2) years;
5. has not been punished by the stock exchange and/or over-the-counter securities exchange in accordance with their respective rules by suspending or restricting the trading in the last one (1) year;
6. other requirements as prescribed by the FSC.
If a securities firm fails to meet any of the requirements set forth in subparagraphs 1 to 5 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the securities firm may be exempted from the relevant requirement.

For operating futures introducing broker business, a securities firm shall submit the following documents to the FSC to apply for permission. However, a financial institution concurrently engaging in securities brokerage business shall also submit the approval documents issued by the competent authority in charge of said enterprise:
1. Application;
2. Articles of Incorporation or equivalent document;
3. Business plan, stating principles of business operation, division of work of internal organization, personnel recruitment and training, and general conditions of business floor and equipment;
4. Minutes of board of directors or governors meeting or shareholders meeting;
5. Mandate agreement entered into with the mandating futures commission merchant;
6. Supporting documents that the mandating futures commission merchant engaging in domestic futures brokerage business is a clearing member of domestic futures clearing house;
7. Latest financial reports audited and attested or reviewed by certified public accountants;
8. Supporting documents that the applicant meets the requirement in subparagraph 4 of the preceding Article;
9. A case checklist; and
10. Other documents as required by the FSC.

Within six (6) months from the date of the FSC's approval, the securities firm applying to operate futures introducing broker business shall submit the following document to the FSC for issuance of a permit license:
1. Application;
2. Photocopy of the securities firm's business license;
3. The internal control system for operation of futures introducing broker business;
4. List of managers and associated persons handling futures introducing broker business and certificates of qualification of associated persons;
5. A declaration that the managers and associated persons handling futures introducing broker business do not have the conditions stated in Article 4 of the Standards Governing the Establishment of Futures Commission Merchants;
6. Supporting documents that the applicant has deposited the operation bond pursuant to Article 17 herein;
7. Supporting documents that the applicant is equipped with transmission facilities required for operation of futures introducing broker business;
8. Supporting documents that the mandating futures commission merchant agrees to deposit additional funds to the clearing and settlement fund pursuant to paragraph 2 of Article 8 herein;
9. A letter of consent stating that the applicant agrees to the examination of its finance, business, and other necessary matters by the FSC, the futures exchange, or FSC-designated institution, and that the applicant agrees to provide explanations and relevant documents in connection with the examination by the above-mentioned institutions; and
10. Evidentiary documents attesting to conformance with the provisions of Article 10, subparagraph 5.
11. Evidentiary documents attesting to conformance with the provisions of Article 9-1.
12. A case checklist.
13. Other documents as required by the FSC.
In the event that a securities firm fails to apply for issuance of a permit license within the time limit referred to in the preceding paragraph, the permission for its operation of futures introducing broker business shall be revoked; provided that if the securities firm has justified reasons, it may, prior to the expiration of the said time limit, apply for extension to the FSC. The extension period shall not be more than six (6) months, and only one extension is allowed.

When a securities firm applies for permission for operation of futures introducing broker business, it may concurrently apply for operation of futures introducing broker business by its branch office.
A securities firm which applies for operation of futures introducing broker business by its branch office after commencement of the operation of futures introducing broker business shall meet the following requirements:
1. It shall meet the provisions in Article 10;
2. It has not been warned by the FSC under subparagraph 1, paragraph 1 of Article 100 of the Act within the most recent three months..
3. It has not been sanctioned with removal of the responsible person or other persons under subparagraph 2, paragraph 1, Article 100 of the Act, or with the removal of the responsible person from the position held under paragraph 1, Article 101 of the Act in the most recent six months.
4. It has not been issued an order to suspend business in part or in whole under subparagraph 3, paragraph 1, Article 100 of the Act within the most recent one year.
5. It has not been subject to revocation in part of its business license under subparagraph 4, paragraph 1, Article 100 of the Act within the most recent two years.
If a securities firm fails to meet any of the requirements set forth in subparagraphs 2 to 5 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the securities firm may be exempted from the relevant requirement.

For a securities firm that applies for operation of futures introducing broker business by its branch office, the head office shall also engage in futures introducing broker business, and such firm shall submit the following documents to apply with the FSC for permission. However, a financial institution that concurrently engages in securities brokerage business shall also submit the approval documents issued by the competent authority in charge of said enterprise:
1. Application;
2. Business plan, stating principles of business operation for the futures introducing broker business of its branch office, internal organization and division of labor, personnel recruitment and training, and overview of business floor and equipment;
3. Minutes of board of directors or governors meeting or shareholders meeting;
4. The internal control system for operation of futures introducing broker business. However, exemption from submission shall be granted when the internal control system is the same as was attached with the previous application for futures introducing broker operations by a branch office.;
5. Latest financial reports audited and attested or reviewed by certified public accountants;
6. Supporting documents that the applicant meets the requirement in subparagraph 4 of Article 10;
7. A case checklist; and
8. Other documents as required by the FSC.

A securities firm that applies for operation of futures introducing broker business by its branch office shall submit the following documents to the FSC to apply for issuance of a permit license within six (6) months after the date of the FSC approval:
1. Application;
2. A photocopy of the business license of the securities firm's branch office.
3. List of managers and associated persons handling futures introducing broker business and certificates of qualification of associated persons;
4. A declaration that the managers and associated persons handling futures introducing broker business do not have the conditions stated in Article 4 of the Standards Governing the Establishment of Futures Commission Merchants (Format as per Attachment 3);
5. Supporting documents that the applicant has deposited an operation bond pursuant to Article 17 herein;
6. Supporting documents that the applicant is equipped with transmission facilities required for operation of futures introducing broker business;
7. Supporting documents that the mandating futures commission merchant agrees to deposit additional funds to the clearing and settlement fund pursuant to paragraph 2 of Article 8 herein;
8. A letter of consent stating that the applicant agrees to the examination of its finance, business, and other necessary matters by the FSC, the futures exchange, or FSC-designated institution, and that the applicant agrees to provide explanations and relevant documents in connection with the examination by the above-mentioned institutions; and
9. Evidentiary documents attesting to conformance with the provisions of subparagraph 5, Article 10.
10. Evidentiary documents attesting to conformance with the provisions of Article 9-1.
11. A case checklist.
12. Other documents as required by the FSC.
In the event that a securities firm fails to apply for issuance of a permit license within the time limit referred to in the preceding paragraph, the permission for its branch office's operation of futures introducing broker business shall be revoked; provided that if the securities firm has justified reasons, it may, prior to the expiration of the said time limit, apply for extension to the FSC. The extension period shall not be more than six (6) months, and only one extension is allowed.

In the event that an applicant for operation of futures introducing broker business under Article 10 to Article 15 herein has any of the following conditions, the FSC may return its application:
1. where the application documents are incomplete or the particulars to be filled in are inadequate and the applicant fails to make rectification despite a notice of rectification within a specified time limit;
2. where there is false statement in the application documents; or
3. where the applicant violates the restrictions or prohibition of the Act and/or these Regulations.

A futures introducing broker shall hang its business license in a conspicuous place at its place of business.