The SEC conducted public hearings on the regulations on the application for approval, the granting of approval for the association, and disclosure of information thereof during April – May 2023 and September – October 2023, as approved by the Capital Market Supervisory Board meeting No. 2/2023 held on 21 February 2023 and the Securities and Exchange Commission Meeting No. 12/2023 held on 3 August 2023, whereby most respondents agreed and gave suggestions on matters such as determination o...

of due diligence and know-your-client assessments (DD/KYC), (3) supporting electronic non-face-to-face identity verification, and (4) allowing businesses to access anonymized data under possession of

securities by recording and maintaining usage information and log files. Chapter 7 Outsourcing of Services __________________ Clause 34 For actions which the applicable laws or regulations do not specifically