regulations: Clause 1 In this Notification: “ regulatory sandbox ” means a framework for experimenting and developing an innovation in a controlled environment to support provision of services related to

and Exchange Commission No. Kor Jor. 4/2560 Re: Determination of the Definitions of Institutional Investor, Ultra-high Net Worth Investor and High Net Worth Investor ___________________________ By

Net Worth Investor and High Net Worth Investor . “ultra-high net worth investor” 6 means an ultra-high net worth investor under the Notification of the Securities and Exchange Commission Re

institutional investor under the Notification of Securities and Exchange Commission concerning the Determination regarding Definition of Institutional Investor and High Net Worth Investor . “ high net worth

High Net Worth Investor and High Net Worth Investor . Clause 3 A securities business license applicant and licensee shall have paid-up registered capital of no less than the following amounts: (1) one

the values of the ongoing projects as of the most recent date possible. Any project worth 10 percent or more of the total income in the consolidated financial statements of the latest financial year

investment management of mutual fund for institutional investors or ultra- ultra-high net worth investors (Ultra Accredited Investor Mutual Fund) which implements an investment strategy similar to that of a

possible. Any project worth 10 percent or more of the total income in the consolidated financial statements of the latest financial year shall be disclosed with expected turnaround schedules during each

date possible. Any project worth 10 percent or more of the total income in the consolidated financial statements of the latest financial year shall be disclosed with expected turnaround schedules during

worth investor ,” and “ high net worth investor ” shall have the same meanings as the definitions of such terms specified in the Notification of the Securities and Exchange Commission concerning the