the SEC Office at least 10 working days before the intended effective date of such rule, along with a brief report on comments from the stakeholders (if any). The types of rule that can rely on this

supervision of major shareholder reflects the actual controlling person, and is seeking public comments from stakeholders to gather and take into consideration the comments for the appropriate revision of

late 2018. Most stakeholders from the business sector and the mutual fund industry generally submitted positive responses supporting the principles. The amendments drafted under the principle-based

’ decision making. These proposed amendments are a result of the Regulatory Reform Project, which the SEC initiated earlier and invited stakeholders to review relevant rules while the project advisor

voting rights” and opened public hearing on the matter in late 2018. The stakeholders mostly agreed with the principle. SEC is proposing a draft notification of the Ministry of Finance which reflects

restrictions or obstacles in business operations in order to prescribe rules which are appropriate, practical and beneficial to stakeholders. This revision of notifications is not applicable to securities

maintain compliance with the approval conditions at all times. In the event that its proposed rules would affect the business operations or the interest of members, investors or stakeholders, the

suggestions of the private sector and stakeholders who took part in the previous hearing on the governing prinicples.Key points of revision include (1) permission for mutual funds offered for sale to

the issuer to support sufficient distribution to retail investors.The proposed amendments have taken into account stakeholders? opinions received from the hearing on the guiding principles conducted in

? pre-determined investment scope.The proposed rules have taken into consideration the public?s and stakeholders? comments and suggestions collected from the hearing on the guiding principles in last