the manipulation or distribution of, assets derived from such acts. (2) regulations specifying the composition of an association related to securities business, whereby a body of persons of at least

this Notification: “Fee” means fee for the operation of a licensed business. “Income” means income derived from the operation of a licensed business. “Office” means the Office of the Securities and

the rate of 0.001 percent of the trading value, regardless of whether such trading is for clients’ accounts or proprietary account, deducted by the following items: (a) the trading value derived from

-broker), as the case may be; (b) in case of licensees being non-members of the Exchange or foreign exchange, the fee shall be calculated from the the trading value derived from the trading transactions of

value or having the income derived from the operation of the assets under (a) (b) (c) or (d) not less than seventy five percent of the company’s total income in each fiscal year; and 2. having its shares