a reasonable and necessary ground and that such securities trading is without the intention to seek benefits in the manner of exploiting the clients, or shall be able to demonstrate that there is a

the following conducts of an intermediary or its related person: (1) making [financial] benefit at the expenses of a client ; (2) entering into transactions by exploiting information, relevant to its

; (2) entering into transactions by exploiting information, relevant to its business and being unrevealed to public, acknowledged by the intermediary , or its directors, executives or other personnel; (3

persons, for example, seeking or exploiting any benefit for oneself, securities companies or other persons by virtue of own position or committing a fraud in an examination. Division 2 Effects of Possessing