evaluation by the SEC Office regarding the management of the operational risk and the customer relationship risk not higher than the medium level or in an acceptable level, unless granted an exemption from the

result of the application in the Office’s electronic work system within thirty days as from the date the Office receives complete and accurate application together with supplemental documents. In case the

holding of shares in each level exceeds 75 percent of the total number of outstanding shares of such company; (9) “Office” means the Office of the Securities and Exchange Commission. Clause 2. In cases

concerning operation of securities business of the securities company, and risk management system to prevent damage from all risk in undertaking securities business in order to be in the level that has no

securities companies or provided by training institutes approved by the Office; or (ii) being a lecturer, instructor or full-time teacher or guest lecturer at university-level educational institutions accepted

deemed that the intermediary has obtained an approval from the SEC Office to appoint such person: (1) the approved person to be fund manager; (2) the approved person to be REIT manager who has passed level

information or system. Clause 7. The securities company must provide a controlling measure which is sufficient for the developed or modified application software to have a correct, and complete data processing

management or risk management of such investments, whether or not it is a central utility function and at any level, there shall be a procedure for requesting an approval from the intermediary’s board of

business undertaking is accurate, complete and current as well as functional and can be monitored effectively. There shall also be an adequate security system to prevent any unauthorized person from

Notification of the Office of Securities and Exchange Commission No. SorThor/Nor. 34/2547 Operational Control and Security of the Information Technology of Securities Company with the same level of standard. The