morality, the SEC has the power to refuse registering the persons as directors of the association. When it is apparent that the board of directors, directors or members of the associations undertake any
person with proportion or characteristics as specified by the SEC; (2) have honest executives as apparent from working records, who are capable and have experiences beneficial to business operation; (3
of inter - dealer brokerage shall- (1) not have shareholder or controlling person with proportion or characteristics as specified by the SEC; (2) have honest executives as apparent from working records
ago or such behavior is not severe to the extent that the person should not be entrusted to perform duty as auditor of entities in the capital market, the SEC may disregard such facts as a cause for