Microsoft Word - EKH_63-019_SET-MD&A_630513_Q1-63_EN EKH/CS/2020/019 May 13, 2020 Subject : Management Discussion and Analysis for the First Quarter 2020 Results To : Directors and
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on draft amendment to approval for paperless filing of mutual funds The SEC is proposing to amend the regulation on filing the application for establishment and management of mutual funds by allowing
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that facilitates market participants as they make a smooth transition towards adopting sustainability disclosure standards, e.g., ISSB, IFRS S1 and IFRS S2, in the coming years to support
supervising them to exercise their due responsibilities, rating the credibility of bonds, that they are up to international standards and regulations, namely, that (1) the rating process is of quality and
market’s role to do so in the drive towards sustainable development of the economy and the society. These SRI Fund fee exemptions are part of the SEC’s efforts to support asset management companies in giving