where management company invest to acquire any assets for its own account (proprietary trading), management company shall provide an effective operating system to protect such investment or entry into a

No. Tor Thor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6

following matters: (1) the selection and supervision of the personnel involved in the operation of the fund to ensure that they have suitable knowledge and capability for the administration and management of

of the SEC. In the case where the securities company prepares the supporting documents for entry into accounts or disclose information in the financial statements inaccurately or incompletely, the

depository or the Bank of Thailand to make securities deposit, withdrawal or book-entry transfer for the purpose of making or taking delivery in the traded securities, as the case may be; “Office” means the

supervision of securities business in the category of management of other persons’ funds, whether it be the mutual fund or private fund management, has the common objective to protect and maintain the best

reference. PAGE 10 Notification of the Office of the Securities and Exchange Commission No. Sor Thor. 14/2558 Re: Rules in Detail on the Prevention and Management of Conflicts of Interest __________________

by the SEC Office to have important rules related to supervision of investment management equivalent to the rules governing securities companies licensed to undertake securities business in the

management company who manages the mutual fund under its supervision more than five percent of the outstanding shares, including shares held by connected persons of such fund supervisor; (3) Do not have the

UNOFFICIAL TRANSLATION (SEC logo and contact information) 8 August 2014 To Managers Securities companies Asset management companies Derivatives intermediaries No. Kor Lor Tor. Kor Thor. (Wor) 23/2557