authorized to make decisions on company’s business operation on behalf of the board of directors; (5) “Department director” means any person who is responsible for the internal operation of a department in the

that such person obtains approval as category A investor contact according to the qualification set forth in (2) of the second paragraph of Clause 4 and the approval period shall be equal to the

regulator. “ market maker ” means a person who is appointed to provide trading of ETF units for ensuring that their market price in the secondary market approximates the net asset value of such ETF units

authorized to make decisions on company’s business operation on behalf of the board of directors; “Department director” means any person who is responsible for the internal operation of a department in the

a clearly statement that the securities company is not allowed to give an advice concerning securities investment to customer. Clause 8. The securities company shall appoint a person responsible for

information in the advertisement; (3) provide additional information so that complete and accurate information is provided to investors; (4) act or refrain from doing any acts within a specified period of time

return, except for estimated return specified in Clause 9; (3) information that urges investors to purchase investment units within a certain timeframe or by a certain time, except for the advertisement of

that may cause a lack of independence in acting as the fund supervisor. Clause 4. Prior to the effective date of this Notification, any persons who act as a fund supervisor shall continue its operation

undertake derivatives business in the category of derivative broker which is limited to only debt securities under the Notification of the Securities and Exchange Commission on granting of approval for

settlement for securities. Clause 5. The securities company licensed to undertake securities business in the category of private fund management shall have paid-up registered capital of not less than the