information, it is difficult for investors to analyze and make comparison efficiently. Besides, brokers are increasingly leaning toward investment advisory services, especially those related to asset allocation
have laws about this already” – Agencies are staffed by lawyers, not software engineers – Enforcement is very, very difficult • When regulation comes to crypto, it will likely be voluntary, driven by
consultations are performed for difficult or contentious matters? If yes, please describe the responses to quality risks to the following questions. - Have the conclusions reached been implemented? If they were
and David Dodd in 1934 • Finding price-intrinsic value discrepancies in the market • Various price-based ratios and future stock returns ⋄ Earnings-to-price ratio (Basu, 1977) ⋄ Dividend-to-price ratio
. Regarding the next 15-year perspective, the Secretary-General said: “It is difficult to make a clear-cut prediction while the digital asset industry is in constant, dynamic change. Nevertheless, the SEC is
signs MOU with Central Institute of Forensic Science to increase efficiency in testing evidence of offenses in the capital market. capital market are complicated and finding the evidence is difficult
appropriate consultation took place for difficult or contentious matters? If yes, Please describe the policies and procedures. If no, How does the firm ensure that the difficult or contentious matters have been
arise and consequently damage the trading confidence and investors themselves. Regarding the next 15-year perspective, the Secretary-General said: “It is difficult to make a clear-cut prediction while
including facilities and other infrastructures made it difficult to compare the rental and service fee with other available lands and buildings. However, taking into consideration of the followings, it is
intrinsic value of the assets and business based on historical and potential earnings and cash flow of the business. It has been valued by a range of valuation methods including relative valuation as