” means any person who is authorized by the derivatives fund manager to make an investment decision to acquire benefits from derivatives for others; “Association” means any derivatives fund management

that the basis of rules and regulations which would serve as management standards must be set out. In this respect, management companies, which are entrusted by their customers, shall manage the

personnel under the first paragraph are required to obtain an approval from the SEC Office before they perform their duties, the intermediary shall govern them to be approved person according to such

discharge of the responsibilities allocated to them, and having honest behaviors without notorious background. In case the personnel under the first paragraph are required to obtain an approval from the SEC

representative office in the Kingdom shall obtain an approval from the Office. The representative under the first paragraph shall undertake only those businesses specified in the approval. The provisions of

contact ” means a person who performs duties in contacting, soliciting, giving advice or planning with respect to trading or investment in derivatives for investors. There are two categories of investor

Notification with respect to the management of any mutual fund that offers investment units for sale in the country and abroad, the SEC Office shall have the power to grant a waiver of compliance with such rules

company under the law governing securities and exchange; (7) “company” means a limited company or a public limited company; (8) “conglomerate” means a group of legal entities having relationship in respect

investment management and shall obtain a prior consent from the client, who uses the service from the intermediary . Chapter 2 Outsourcing Operational Function to Service Providers ____________________ Clause

a client to obtain rights and benefits arising from any securities or instruments owned by the client which are under custody of the derivatives broker from the issuers of such securities or