Important Measure January 2021
2021-03-22
Amendment to Article 54 of the Securities and Exchange Act
To keep in step with international trends, enhance protection of the rights of young people, and harmonize with last year’s amendment to the Civil Code lowering the age of majority to 18 years, the FSC has amended Article 54 of the Securities Exchange Act. The amendment lowers the minimum age requirement for associated persons employed by securities firms to handle duties directly related to securities business from 20 years of age to the age of majority under the Civil Code. The amendment was passed on the third reading by the legislature on 29 December 2020 and promulgated by the President on 27 January 2021.
To keep in step with international trends, enhance protection of the rights of young people, and harmonize with last year’s amendment to the Civil Code lowering the age of majority to 18 years, the FSC has amended Article 54 of the Securities Exchange Act. The amendment lowers the minimum age requirement for associated persons employed by securities firms to handle duties directly related to securities business from 20 years of age to the age of majority under the Civil Code. The amendment was passed on the third reading by the legislature on 29 December 2020 and promulgated by the President on 27 January 2021.
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2021-03-22