| Article 9 |
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| Article 10 |
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| Article 11 |
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| Article 12 |
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| Article 13 |
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| Article 14 |
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| Article 14-1 |
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| Article 14-2 |
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| Article 14-3 |
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| Article 14-4 |
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| Article 14-5 |
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| Article 15 |
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| Article 16 |
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| Article 17 |
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| Article 18 |
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| Article 19 |
A securities firm trading securities for its own account, unless it is concurrently operated by a financial institution and subject to other relevant acts or regulations, shall not hold more than 10% of the total issued shares of any company. The total amount of the cost of the securities issued by any company held by such securities firm shall not be more than 20% of its capital net worth, and the total amount of the cost of the OTC Second Board stocks held by such securities firm shall not be more than 10% of its capital net worth. However, this provision shall not apply if the Commission provides otherwise.
If the aggregate of the securities acquired by a securities firm through underwriting and those traded for its own account by such firm exceeds the limit referred to in the preceding Paragraph, the portion in excess shall be sold within 1 year after its acquisition in accordance with Article 75 of the Act. |
| Article 19-1 |
The Commission shall prescribe the total amount limits, and methods for calculation thereof, on the positions held in foreign securities and the expenditures on derivative financial product hedging transactions of a securities firm trading foreign securities for its own account.
A securities firm shall not hold more than 5 percent of the total issued shares of any foreign company. The total amount of the cost of the securities issued by any foreign company that a securities firm holds shall not exceed one-half of the total amount limit under the preceding paragraph.
When a securities firm engages in the business of trading foreign securities for its own account as referred to in paragraph 1, if such trading is neither an investment of proprietary funds nor done to meet hedging needs, it shall obtain approval from the Central Bank, and any trading of foreign bonds for its own account shall be done in compliance with the provisions of the GreTai. |
| Article 19-2 |
Exchange settlement matters for securities firms trading foreign securities for their own accounts and engaging in derivative financial product hedging transactions shall be handled in accordance with the Regulations Governing the Reporting of Foreign Exchange Receipts and Disbursements or Transactions.
A securities firm may conduct hedge trading only in the capacity of a customer, through a designated bank approved by the Central Bank to conduct derivative foreign exchange product business, or through an overseas financial institution.
A securities firm trading foreign securities for its own account shall open a segregated foreign exchange account in the selected foreign currency at a designated foreign exchange bank, from which it shall conduct all deposits and remittances in connection with payment and receipt of settlement money and offshore fees. |
| Article 19-3 |
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| Article 19-4 |
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| Article 19-5 |
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| Article 19-6 |
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| Article 19-7 |
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| Article 20 |
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| Article 21 |
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