, excluding the branch office of [an intermediary which is] financial institutions established under other laws. Clause 4 In this Notification: “intermediary” means a securities company and a derivatives
] financial institutions established under other laws. Clause 4 In this Notification: “intermediary” means a securities company and a derivatives intermediary. “branch office” means a branch office of an
securities business in the category of private fund management; (6) “ gold ETF ” means a gold ETF established under the Notification of the Office of the Securities and Exchange Commission concerning
business in the category of private fund management; (6) “gold ETF” means a gold ETF established under the Notification of the Office of the Securities and Exchange Commission concerning Establishment of
obtain licenses to undertake all types of securities business but not including financial institutions established by any other law which have obtained securities business licenses. Clause 4 A securities
registered to be derivatives intermediaries; (6) a financial institution whose core business is under direct supervision of another regulatory agency and later obtained license to undertake securities business