Suspension or Cancellation of Licenses

Pursuant to Article 18 of “the Communiqué on Principles Regarding Licensing and Recordkeeping For Those Engaged in Capital Market Activities” (VII-128.7) of the Capital Markets Board, if a license holder fails to participate in license renewal training as and when required, his/her license will be suspended. Those with a suspended license are not permitted to engage in the licensed activities. A suspended license may be reactivated through participation in renewal training.

Furthermore, principles as to temporary or permanent cancellation of license if and when a license holder is determined to have breached and violated the provisions of the Capital Markets Law, the regulations issued under the Law, the relevant standards and forms, and the general or special decisions of the Board are determined and regulated by the Board.

License status of persons whose license certificate is temporarily or permanently cancelled by a decision of the Board will be converted to “Temporary Cancellation” or “Permanent Cancellation” status through the Licensing and Recordkeeping System (LSTS).