SEC has received a tip from an investor that a Facebook account named “Japhoon” (meaning Catching Stocks) may operate business without obtaining a license from SEC. After further investigation of
capacities of an investment consultant and private fund manager without obtaining the necessary license. In this context, he sought public engagement regarding the value of securities and the suitability of
) Extending the time period for commencing the operation of the business from 180 days to 270 days from the date of obtaining the license. Under the proposed rule, the licensee could apply for an extension of
toward the date of obtaining the license, not have criminal records indicating commission of offense under the law controlling business operation of such person or any other law relating to financial
. Such application shall be filed with the SEC via the SEC Office within one hundred and twenty days from the date obtaining the Minister’s approval in form and together with supplementary documents
experience in asset appraisal; Having a total number of the appraisers not less than 5 persons. In this regard, at least 2 persons shall be lead appraisers obtaining approval from the SEC; Not appearing that
operation until further instructed, while obtaining a proper license is mandate for other operators before beginning the business operation. Therefore, investors are strongly advised to be extra cautious
approving digital asset licensing came into force on 24 July 2018. Both existing businesses that already operate a digital business before the legal enforcement or newcomers who are interested in obtaining
Associated Person hold investment units over one-third of the units outstanding, directly or indirectly, possibly from causes such as increasing investments, obtaining a waiver as an eligible case specified