in investment Securities 5. Investments in subsidiary and affiliated 6. Receivables from Clearing House 7. Securities business receivables and Derivatives business receivables 8. Others derivatives

securities investments; “investment advisory agent” means a natural person other than director or officer of the investment advisory company, appointed by the investment advisory company to be an advisory

by the Association; (4) The advertisement which presents the comparison or the difference between return from investment in the fund and other investments shall incorporate material information which

comparison or the difference between return from investment in the fund and other investments shall incorporate material information which enables the investors to understand the differences among various

for supervising investments and investment proportion of mutual funds, as specified in the fund scheme and in accordance with the rules and procedures prescribed by the Notification of the SEC or the

that the derivatives fund manager will appropriately manage the investments for investors to protect and maintain the best interest of investors under acceptable risk exposure, it is necessary that the

conditions. "mutual fund management" means the management of investments under a mutual fund project by issuing investment units of each project for sale to the public and bringing proceeds therefrom to invest

interest of investors based on proper and effective rules and regulations. This serves to assure investors that management companies will appropriately manage the investments for investors, keeping in mind

issued by financial institution under the law on interest on loan of financial institution ; (d) investments in securities, derivatives and other financial instruments; (e) receivables of securities

clients ; Clause 9 In the case where an intermediary outsources investment management of mutual funds, provident funds, derivatives investment management and risk management of such investments to the same