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
), while Transparency International (TI) defines corruption as an abuse of entrusted power for private gains, in both public and private sectors. The European Union defines corruption as the abuse of
Implemented or above for 35 out of 37 Principles. Such notable progress can be summarized into three main groups: (1) New Principles for the SEC, (2) Principles with significant improvements, and (3) Principles
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
(CMSB) has the power and duty under the Securities and Exchange Act that include issuance of rules and regulations governing the securities industry and reporting to the SEC Board. The CMSB comprises