company shall not engage in any act which result in creating, altering, transferring, reserving or terminating the right in assets of any client, without or not comply with instruction or consent from the

Business Clause 13 9 Personnel in the capital market business shall be persons who [i] have ability and work experience, [ii] attend training courses or pass the examination of courses provided by the SEC

Normal Approval Applicant’s personal record and firm’s profile Instruction a. If there is insufficient space for any section of the form, you may photocopy the relevant page(s) and submit as part of

Business Clause 13 Personnel in the capital market business shall be persons who [i] have ability and work experience and [ii] attend training courses or pass the examination of courses provided by the SEC

results in creating, altering, transferring, reserving or extinction of client’s right in his/her own asset, without or fail to comply with instruction or consent in writing from the client or any person

1 Applicant’s personal record and audit firm’s profile Instruction a. If there is insufficient space for any section of the form, you may photocopy the relevant page(s) and submit as part of this

application within the period specified as follows shall be exempt from having the qualifications under Clause 5: (1) Being a person who has passed the examination on knowledge of investment advisor from

person responsible for risk management who is independent from the operator shall be assigned; (2) The calculation of fair value of instruments and the examination of the management on compliance with the

cause any conflicts of interest with the management of mutual funds; (2) Having attained the age of twenty; (3) Having passed the fundamental knowledge examination for professionals administered by a

examination and the letter notifying the result of the examination or the letter notifying the order issued by an organization which regulates the undertaking of the applicant’s business within the period of 3