their respective types of risks and facilitate development of different types of securities businesses. Pursuant to the current rules, the paid-up registered capital of securities companies and
efforts in strengthening corporate governance in the industry. In the year ahead, countless different challenges are bound to arise and test our strengths, but I believe the SEC management and staff will
does not change significantly in 2005, though the pace of growth may slow down, in line with a declining trend in global economic expansion. Various negative factors that impacted economic growth in the
repo market in February 2008 and conduct bilateral repo transactions with primary dealers instead. Private repo will become more and more important source of funding and in turn contributing to expansion
, brings about different outcomes, and can be applied on different levels. The supervisory mechanism covers three areas, i.e., self-discipline, market discipline and regulatory discipline. To create
efficient allocation of resources. It focuses on the quality and consistency the different elements of regulations that influence corporate governance practices and the division of responsibilities between
characteristics of digital assets and types of associated risks Businesses and in alignment with the specific characteristics and risks associated with different types of digital assets * while adhering to
assets and types of associated risks Businesses and in alignment with the specific characteristics and risks associated with different types of digital assets * while adhering to international guidelines