institutional client s; (6) “ inside information ” means material facts which affect the change in the price of securities but have not yet been disclosed to the public and a securities company has acquired

as well. For example, for investment or encumbrance creation of mutual funds or private funds, it shall consider a process in settlement or delivery which may affect to an overall market system. For a

that the applicant will have a good and efficient management; (7) demonstrating that the applicant will have an efficient policy and measure for [i] preventing conflicts of interest and accessing inside

of interest and accessing inside information by unauthorized personnel [ii] internal control and [iii] risk management for undertaking precious metal derivatives brokerage including measure for

foreign investor of the same characteristic as that of the investor under (1) to (14) mutatis mutandis ; “retail client” means a client other than an institutional client; “inside information” means the

Clause 2, the derivatives dealer shall ensure efficient prevention of conflicts of interest and access to inside information between operational unit and personnel, risk management in business operation

with the correct and complete evidentiary documentation according the Licensing Manual for the Public, and the Securities and Exchange Commission shall complete the consideration process within thirty

) and (2) “retail client” means client other than an institutional client; “inside information” means any information which substantial to the change of price of the securities which is not reveal to

. Chapter 1 The Applicant Clause 5 The applicant for derivatives business license type Sor-1 shall be: (1) a securities company which obtains a securities business license type A or is in a process of

procurement. (In case of financial institutions, specify sources of capital and loans). (b) If the manufacturing process or treatment of raw material wastes affects the environment, clarify the Company's