/ Registration • Brokerage о Securities Brokerage о Derivatives Agent о Guidelineon the commencement for operation of securities / derivatives business • Dealer о
unitholders. (a) Decreasing minimum subscription (b) Increasing in channel of selling and redemption investment units (c) Increasing in selling agent (d) Increasing in frequency of (e) Decreasing
whether such service provider is borrower's or lender's counter party of agent. Undertaking securities borrowing and lending business under the first paragraph shall, however, not include the followings
broker or an agent to effectuate trading in debt securities between dealers in normal course of business, the service of which is carried out by collecting information on offer for sale or purchase of such
such inside information; (4) Director, sub-committee member, representative of a juristic person, agent, worker, employee, advisor or operator in a governmental agency, the SEC Office, the Securities
services as a broker or an agent for any person with respect to the trading or exchange of digital assets in the normal course of business, in consideration of a fee or other remuneration, excluding the
relations The type and amount of transaction Whether it is a market price or a fair price Whether the conditions are in accordance with ordinary business Necessity and reasonableness / opinion of the Audit