No. Tor Thor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6

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

Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6

issues): · challenge of real time systems with large numbers and/or high value transactions (e.g. banks, travel agents); · unfamiliar systems and in-house expertise to assess them; · understanding and

Arrangement, Operating Systems, and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6 September 2013, the SEC Office hereby issues this Notification, as follows

Systems and Providing Services to Clients of Securities Companies and Derivatives Intermediaries dated 6 September 2013, the Office of the Securities and Exchange Commission hereby issues the following

, Clause 38, Clause 43(3), and Clause 44 of the Notification of the Capital Market Supervisory Board No. TorThor. 35/2556 Re: Standard Conduct of Business, Management Arrangement, Operating Systems and

securities dealing under foreign law; (5) “ retail client ” means a client who is not an institutional investor or a high net worth investor; (6) “ institutional investor ” means an institutional investor as

business operation and personnel to ensure that such misconducts will not happen again. (3) Demonstrate that the applicant has at least the following operation systems which are ready for it to operate as a

Notification of the Securities and Exchange Commission regarding Determination of Definitions of Institutional Investor, Ultra High Net Worth Investor and High Net Worth Investor . “ private equity ” means a