separation of the role of chairman and CEO in order to ensure an appropriate balance of power between the board of directors and the management. UPDATE: The SEC has issued the Notification of the Capital
role, the board should ensure the balance of power and authority of the board and between the board and management by: (1) having the board comprise a majority of independent directors, or (2
related associations The SEC has the power to make an order for the directors or members to clarify about facts of the associations. The SEC or the officers are empowered to enter the association during the
social development; it is not only a source of fund mobilization for public and private sectors, but also helps to balance the financial system and drives economic growth, employment, income distribution
possible limit of individual freedom, regulation is essential to uphold market credibility and orderliness. Yet, the regulator’s exercising of power must be prudent, fair and only as necessary to protect the