owner in shares under the fourth paragraph of Section 24, a director, an officer or an employee of such derivatives business operator. Furthermore, the auditor shall also adhere to the ethical code of

opinion by an auditor approved by the Office, and such auditor must not be a director, staff member or employee of such securities company. The auditor of the private fund must adhere to the code of conduct

prescribed in the Notification of Securities and Exchange Commission concerning the Principles for Undertaking Securities and Derivatives Businesses . In order to adhere to the principles, the intermediary

Businesses . In order to adhere to the principles, the intermediary shall comply with this Notification. In this regard, where the rules, under this Notification or under other Notifications of Capital Market