permitting license within 60 days from the date on which the SEC Office has received complete application and documentation. In this regard, the Securities and Exchange Commission will complete its

proposal to the Securities and Exchange Commission for permitting license within ninety days from the date on which the SEC Office has received complete application and documentation. In this regard, the

Board concerning Rules on Personnel in the Capital Market Business . Clause 3 It shall be deemed that a derivatives intermediary has obtained an approval from the SEC Office to appoint a person to be

the Notification, by having obtained an approval from the Capital Market Supervisory Board, to allow exemption for some kinds of intermediary not to comply with any requirement under this Notification

individual, and shall be allowed to undertake a derivatives business only after a license from the SEC has been obtained. Any derivatives business operator which is a legal entity under Section 17 and engages

the category of any intermediary or capital market products ; (2) issuing the Notification, by having obtained an approval from the Capital Market Supervisory Board, to allow exemption for some kinds of

of share dividends; (f) conversion of securities; or (g) any other circumstance. (3) terms regarding restitution for compensation similar to the aforementioned circumstances to counterparty which have

case may be, except for the group of securities companies under Clause 2(1) which has obtained a license for establishing a securities trading center in any manner other than a license under regulatory

of the existing trade association as approved by the general meeting of the trade association (if any). Clause 3 After the SEC Office has received the application and considered that the regulations of

Companies dated 29 June 2006. Clause 2 In the Notification: “ electronic data ” means data that are created, sent, received, stored or processed through electronic procedures; “ securities company reporting