and Exchange Commission No. Sor Thor/Nor. 26/2545 Re: Prescribing Factors in Considering the Seriousness of Behavior as Prohibited Characteristics of Persons who are or will be Major Shareholders of the

intermediary shall have measures for correctness [of fault action], control [of impact] and punishment [for wrongdoing] in proportion to the seriousness of their actions. Clause 9 In case the association

for correctness [of fault action], control [of impact] and punishment [for wrongdoing] in proportion to the seriousness of their actions. Clause 9 In case the association determines the guideline

appropriate taking into account the seriousness of the breach. Chapter 2 Availability of competent personnel Objective The management company shall demonstrate that it has adequate amount of personnel for the

Capital Market Supervisory Board. In making consideration, the SEC Office shall take into account the degree of seriousness of such prohibited characteristics; (4) being a government official or an official