derivatives contracts; “Foreign derivatives business operator” means any person undertaking derivatives business under the law of foreign country and under supervision of authority or agency which regulates

management company’s staff; (2) Supervision and inspection management company’s staffs comply with standard under (1) and; (3) Prescription of disciplinary to punish staffs who violate or fail to perform to

of the Office of the Securities and Exchange Commission No. OrKhor./Nor. 5/2549 Re: Guidelines Relating to Operating Systems of Fund Management Business In order for a management company to comply

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

reference. 14 Notification of the Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of

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 __________________

of the Information Technology of a Securities Company. 2. Segregation of Duties. 3. Physical Security. 4. Information and Network Security. 5. Change Management. 6. Backup and IT Contingency Plan. 7

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