undertaking of business as securities broker, securities underwriting, prevention of using inside information, takeover, issuance and offer for sale of securities; (b) Standards of conduct, ethics and various

of the independent directors under the first paragraph of sub clause (2) would not be applied to an intermediary in the category of investment advisor or derivatives advisor; (3) having appropriate

appoint it to act as securities broker. For the purpose of fairness to the parties, the SEC may specify any particulars which are material to the agreement.

law on securities and exchange (SC.) licensed to operate securities business in the category of: Ο securities broker Ο securities dealer Ο investment advisor Ο securities underwriting Ο mutual fund

company shall have a process ensuring that the person who performs a duty of an investment advisor has acknowledged and understood the information in the analysis report well enough to be able to give

account of nature, scale, quantity, complexity and diversity of businesses and services, as well as acceptable level of risks relevant to such businesses and services. 2 In case where any material change is

website in the form of community web board shall not be liable to presenting oneself to the general public as being ready to provide services as investment advisor or derivatives investment advisor on the

application within the period specified as follows shall be exempt from having the qualifications under Clause 5: (1) Being a person who has passed the examination on knowledge of investment advisor from

income which the company has received from providing service to a client, such as investment advisor service fee, securities underwriting fee, fund management fee, clients’ asset management fee and

) Person in which the fund manager has held shares exceeding thirty percent of the total outstanding shares of such person (c.5) Person who is an investment advisor of the management company or the fund (c.6