An insurance enterprise that concurrently operates discretionary investment business, making decisions with discretionary authority about the utilization of subject assets under a special ledger account for investment-linked insurance business, shall establish a specialized department exclusively for the purpose, which shall be staffed with a sufficient number of competent supervisors and associated persons.
Except where the FSC provides otherwise, the supervisors and associated persons of the specialized department of the preceding paragraph may not engage in business other than that of the specialized department, nor may their duties be performed by persons other than the registered supervisors and associated persons of the department.
No associated person of paragraph 1 that carries out research and analysis and makes investment or trading decisions may concurrently serve as an associated person that executes transactions; in addition, no associated person that makes investment or trading decisions may concurrently serve as a person who makes investment or trading decisions with regard to the assets under an ordinary account of the insurance enterprise.
Any insurance enterprise producer who solicits business in which the enterprise has discretionary authority to decide the utilization of subject assets in investment-linked insurance, in addition to meeting the qualifications for associated persons set out in the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises, shall also abide by the provisions of the SITC Act and the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises.

An insurance enterprise that concurrently operates discretionary investment business, making decisions with discretionary authority about the utilization of subject assets under a special ledger account for investment-linked insurance business, shall do so in accordance with operating rules.
Operating rules regarding contract signing, account opening, trading, settlement, clearing, investment and trading matters (e.g. analysis reports, decisions, execution records, review reports), and other matters shall be drafted by the SITCA and approved by the FSC; the same shall apply to any amendment thereto.

The provisions of Article 10, Article 11, paragraphs 1, 3, and 4, Article 13, paragraphs 1 and 4, Article 14, Article 14-1, Articles 16 through 20, Article 21, paragraph 1, Article 22, paragraphs 1, 2, 4, 8, and 10, Articles 22-1 through 25, Article 26, paragraphs 1 and 4, and Articles 28 through 31 apply mutatis mutandis to an insurance enterprise that concurrently operates discretionary investment business in which it makes decisions with discretionary authority about the utilization of subject assets under a special ledger account for investment-linked insurance business.