instruments and investment units; “Securities company” means a company licensed to undertake securities business in the category of securities brokerage or securities dealing excluding a person licensed to
private fund management company [unless indicated otherwise], including: (a) a securities company licensed to undertake securities business in the category of brokerage, dealing or underwriting of any
fund management company [unless indicated otherwise], including: (a) a securities company licensed to undertake securities business in the category of brokerage, dealing or underwriting of any securities
conjunction with (11) and (12) of the first paragraph under Clause 12 and Clause 14 of the Notification of the Capital Market Supervisory Board No. Tor Thor. 35/2556 Re: Standard Conduct of Business, Management
company [unless indicated otherwise], including: (a) a securities company licensed to undertake securities business in the category of brokerage, dealing or underwriting of any securities and; (b) a