Article 39
A foreign securities firm or financial institution that has received approval from its home jurisdiction may apply for approval for its branch offices located in the territory of the ROC to concurrently operate futures business.
Article 9, Article 10, Article 24, Article 26, the proviso of Article 27, Article 32, and Article 33 of these Standards shall apply mutatis mutandis to a foreign securities firm or financial institution applying for approval for its branch offices located in the territory of the ROC to concurrently operate futures business.

Article 42
Foreign securities firms or financial institutions applying for concurrent operation of futures business shall be required, within 6 months from the date on which the FSC grants the approval, to furnish the following documents to the FSC for issuance of a business license:
1. an application form;
2. [a description of the] internal control system for the operation of futures business;
3. a list of managers and associated persons who will be involved in the administration of futures business matters, and their qualification documents;
4. a statement from each manager and associated person who will be involved in the administration of futures business matters declaring that he/she does not fall within any of the categories under Article 4;
5. documents showing that the operating bond required under Article 14 of the Regulations Governing Futures Commission Merchants has been deposited;
6. documents showing compliance with Article 40;
7. documents showing that the applicant has immediate access to the information of the trading market and the transmission equipment essential to trading;
8. documents showing that the applicant has permission to engage in the trading of futures in a futures exchange;
9. documents showing that the applicant has permission to process settlement and clearing with a futures clearing house;
10. documents showing compliance with the provisions of Article 6;
11. a case check-list form; and
12. other documents required by the regulations of the FSC.
Where a foreign securities firm or financial institution fails to apply for approval and issuance of a business license within the time limit specified in the preceding paragraph, the approval shall be invalidated; provided, however, that where legitimate reasons exist, application for an extension may be submitted to the FSC prior to expiration of the time limit. Such extension shall not be longer than 6 months and may be applied for only once.

Article 43
Futures commission merchants or other enterprises concurrently operating futures business applying for the addition of new business types must meet the following requirements:
1. Within the last 3 months, the applicant has not received a warning from the FSC in accordance with Article 100, paragraph 1, subparagraph 1 of the Act.
2. Within the last half year, the applicant has not been ordered by the FSC to change its responsible person or other related persons in accordance with Article 100, paragraph 1, subparagraph 2 of the Act, or to discharge its responsible person pursuant to Article 101, paragraph 1 of the Act.
3. Within the last year, the applicant has not been ordered by the FSC to suspend its business, in whole or in part, in accordance with Article 100, paragraph 1, subparagraph 3 of the Act.
4. Within the last 2 years, the applicant has not had any part of its business permission revoked by the FSC in accordance with Article 100, paragraph 1, subparagraph 4 of the Act.
5. Within the last year, the applicant has not had its trading rights terminated or restricted by any futures exchange or futures clearing house pursuant to its bylaws.
If a futures commission merchant or other enterprise concurrently operating futures business fails to meet any of the requirements set forth in any subparagraph of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the futures commission merchant or enterprise may be exempted from the relevant requirement.

Article 46
Futures commission merchants or other enterprises that concurrently operate futures business and apply for the addition of new types of operation shall be required, within 6 months from the date on which the FSC grants the approval, to complete the registration of the new business types in accordance with the acts and regulations and furnish the following documents to the FSC for issuance of a business license reflecting the new business types:
1. an application form;
2. a list of managers and associated persons who will be involved in the administration of futures business matters, and their qualification documents;
3. a declaration that none of the managers or associated persons involved in administration of futures business matters falls within any of the categories under Article 4;
4. documents showing that the operating bond required under Article 14 of the Regulations Governing Futures Commission Merchants has been deposited;
5. documents showing allocation of additional exclusively earmarked operating capital;
6. documents showing that the applicant has immediate access to the information of the trading market and the transmission equipment essential to trading;
7. documents showing that the applicant has permission to engage in the trading of futures in a futures exchange;
8. documents showing that the applicant has permission to process settlement and clearing with a futures clearing house;
9. the financial report for the most recent period, audited and attested by a certified public accountant; provided, however, that when the financial report submitted at the time of application was for the same period, this requirement shall not apply;
10. documents showing compliance with the provisions of Article 6;
11. where the applicant is a domestic securities firm, documents showing compliance with the provisions of Article 24, paragraph 1, subparagraph 6, and a photocopy of the firm’s approval and license certificate;
12. documents showing compliance with the provisions of Article 43, paragraph 1, subparagraph 5;
13. a case check-list form; and
14. other documents required by the regulations of the FSC.
Where a futures commission merchant or other enterprise concurrently operating futures business fails to apply for a business license for the new business types within the time limit specified in the preceding paragraph, the approval shall be invalidated; provided, however, that where legitimate reasons exist, application for an extension may be submitted to the FSC prior to expiration of the time limit. Such extension shall not be longer than 6 months and may be applied for only once.

Article 37
Domestic financial institutions applying for concurrent operation of futures business shall be required, within 6 months from the date on which the FSC grants the approval, to furnish the following documents to the FSC for issuance of a business license:
1. an application form;
2. [a description of the] internal control system for the operation of futures business;
3. a list of managers and associated persons who will be involved in the administration of futures business matters, and their qualification documents;
4. a statement from each manager and associated person who will be involved in the administration of futures business matters declaring that he/she does not fall under any of the categories under Article 4;
5. documents showing that the operating bond required under Article 14 of the Regulations Governing Futures Commission Merchants has been deposited;
6. documents showing that the applicant has immediate access to the information of the trading market and the transmission equipment essential to trading;
7. documents showing that the applicant has permission to engage in the trading of futures in a futures exchange;
8. documents showing that the applicant has permission to process settlement and clearing with a futures clearing house;
9. documents showing compliance with the provisions of Article 6;
10. documents showing compliance with the provisions of Article 25;
11. a case check-list form; and
12. other documents required by the regulations of the FSC.
Where a domestic financial institution fails to apply for approval and issuance of a business license to concurrently operate the futures business within the time limit specified in the preceding paragraph, the approval shall be invalidated; provided, however, that where legitimate reasons exist, application for an extension may be submitted to the FSC prior to expiration of the time limit. Such extension shall not be longer than 6 months and may be granted only once.

Article 31
Domestic securities firms applying for concurrent operation of futures business by a branch office shall be required, within 6 months from the date on which the FSC grants the approval, to furnish the following documents to the FSC for issuance of a business license for the branch office:
1. An application form.
2. A photocopy of the approval and license certificate for the branch office of the securities firm.
3. A list of managers and associated persons who will be involved in the administration of futures business, and their qualification documents.
4. A statement from each manager and associated person who will be involved in the administration of futures business declaring that he/she does not fall within any of the categories under Article 4.
5. Documents showing that the operating bond required under Article 14 of the Regulations Governing Futures Commission Merchants has been deposited.
6. Documents showing the allocation of additional funds earmarked as exclusively earmarked operating capital.
7. Documents showing that the applicant has immediate access to the information of the trading market and the transmission equipment essential to trading.
8. The financial report for the most recent period, audited and attested by a certified public accountant; provided, however, that when the financial report submitted at the time of application was for the same period, this requirement shall not apply.
9. Documents showing compliance with the provisions of Article 6.
10. Documents showing compliance with the provisions of Article 13, paragraph 2, subparagraph 6.
11. Documents showing compliance with the provisions of Article 13, paragraph 2, subparagraph 7.
12. Documents showing compliance with the provisions of Article 24, paragraph 1, subparagraph 6.
13. A case check-list form.
14. Other documents required by the regulations of the FSC.
Where a domestic securities firm fails to apply for a business license for the branch office to concurrently operate the futures business within the time limit specified in the preceding paragraph, the approval shall be invalidated; provided, however, that where legitimate reasons exist, application for an extension may be submitted to the FSC prior to expiration of the time limit. Such extension shall not be longer than 6 months and may be applied for only once.

Article 29
Domestic securities firms applying for concurrent operation of futures business shall be required, within 6 months from the date on which the FSC grants the approval, to furnish the following documents to the FSC for issuance of a business license:
1. an application form;
2. a photocopy of the securities firm’s approval and license certificate;
3. [a description of the] internal control system for the operation of futures business;
4. a list of the managers and associated persons who will be involved in the administration of futures business, and their qualification documents;
5. a statement from each manager and associated person who will be involved in the administration of futures business declaring that he/she does not fall within any of the categories under Article 4;
6. documents showing that the operating bond required under Article 14 of the Regulations Governing Futures Commission Merchants has been deposited;
7. documents showing that the applicant has immediate access to the information of the trading market and the transmission equipment essential to trading;
8. documents showing that the applicant has permission to engage in the trading of futures in a futures exchange;
9. documents showing that the applicant has permission to process settlement and clearing with a futures clearing house;
10. the financial report for the most recent period, audited and attested by a certified public accountant; provided, however, that when the financial report submitted at the time of application was for the same period, this requirement shall not apply;
11. documents showing compliance with the provisions of Article 6;
12. documents showing compliance with the provisions of Article 24, paragraph 1, subparagraph 6;
13. documents showing compliance with the provisions of Article 25;
14. a case check-list form;
15. other documents required by the regulations of the FSC.
Where a domestic securities firm fails to apply for approval and issuance of a business license to concurrently operate futures business within the time limit specified in the preceding paragraph, the approval shall be invalidated; provided, however, that where legitimate reasons exist, application for an extension may be submitted to the FSC prior to expiration of the time limit. Such extension shall not be longer than 6 months and may be granted only once.

Article 24
Domestic securities firms applying for concurrent operation of futures business must meet the following requirements:

1. The financial report for the most recent period, audited and attested by a certified public accountant, shows no accumulated deficits, and further conforms to the standards set forth in Article 49 of the Securities and Exchange Act.
2. Within the last 3 months, the applicant has not received a warning from the FSC in accordance with Article 66, paragraph 1, subparagraph 1 of the Securities and Exchange Act.
3. Within the last half year, the applicant has not been ordered by the FSC to discharge any directors, supervisors, or managers in accordance with Article 66, paragraph 1, subparagraph 2 of the Securities and Exchange Act.
4. Within the last year, the applicant has not been ordered by the FSC to suspend its business, in whole or in part, in accordance with Article 66, paragraph 1, subparagraph 3 of the Securities and Exchange Act.
5. Within the last 2 years, the applicant has not had any of the establishment approvals for its branch offices revoked by the FSC in accordance with any provisions of the Securities and Exchange Act.
6. Within the last year, the applicant has not had its trading rights terminated or restricted by the Taiwan Stock Exchange or the Taipei Exchange in accordance with their bylaws.
7. The applicant’s regulatory capital adequacy ratio has not dropped below 150 percent.
8. Other requirements prescribed by the FSC.
If a futures commission merchant fails to meet any of the requirements set forth in subparagraphs 2 to 6 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the futures commission merchant may be exempted from the relevant requirement.

Article 13
When applying for the approval of its establishment, a futures commission merchant may also apply at the same time for the establishment of branch offices.
After commencement of business, a futures commission merchant may apply for the establishment of branch offices provided that the following requirements are satisfied:
1. The financial report for the most recent period, audited and attested by a certified public accountant, satisfies the requirements of Article 17 of the Regulations Governing Futures Commission Merchants and does not fall within any of the categories specified in Article 22 of the same Regulations; provided, however, that this provision shall not apply where the additional branch offices are being established as the result of a merger with or acquisition of the whole or the main portion of the business or assets of another futures commission merchant.
2. In the last 3 months, the futures commission merchant has not received an FSC warning as set forth under Article 100, paragraph 1, subparagraph 1 of the Act; provided, however, that this provision shall not apply where the additional branch offices are being established as the result of a merger with or acquisition of the whole or the main portion of the business or assets of another futures commission merchant.
3. In the last 6 months, the futures commission merchant has not been ordered by the FSC to replace its responsible person or other related persons in accordance with the provisions of Article 100, paragraph 1, subparagraph 2 of the Act, or been ordered to discharge its responsible person in accordance with Article 101, paragraph 1 of the Act.
4. In the last year, the futures commission merchant has not been ordered by the FSC to suspend its business operations in whole or in part pursuant to Article 100, paragraph 1, subparagraph 3 of the Act.
5. In the last 2 years, the futures commission merchant has not had any of its business licenses revoked by the FSC in accordance with Article 100, paragraph 1, subparagraph 4 of the Act.
6. In the last year, the futures commission merchant has not had its trading rights terminated or restricted by the futures exchange or futures clearing house pursuant to its bylaws.
7. In the last year, the futures commission merchant has not violated any local futures acts or regulations which are effective in the area where it handles brokerage trading and hence been punished by the local competent authority.
If a futures commission merchant fails to meet any of the requirements set forth in subparagraphs 2 to 6 of the preceding paragraph, but has shown concrete improvement in the circumstances, and the FSC has recognized the improvement, the futures commission merchant may be exempted from the relevant requirement.