borrowing and lending, and joint venture management. As a result, any intermediary wishing to operate only brokerage business, for example, would have to meet the high minimum paid-up capital rule despite its

consent. In this regard, the SEC Office complies with appropriate security measures, for example, ISO27001 standards or NIST, etc. In case of any cross-border data transfer to another country, international

, and shall be in the form of high quality assets with adequate liquidity. Securities clearing houses and central securities depositories shall establish clear plans to obtain additional sources of funds