To enhance clarity and consistency with the current business practices of the private sector, the SEC has issued regulations revising the characteristics of “bills” deemed as “securities,” which

untrustworthy characteristics or by the board of directors consisting of such director/executive or by any person assigned by such board may be deemed incomplete and lacking legal binding to the company. On June

2023.  Essentially, the regulations as amended by the Capital Market Supervisory Board are as follows:   (1)  Clarifying the characteristics of an investment company, referring to a company that engages

investors at any given time; (2)  having the characteristics of fundraising from the public in general with advertising or solicitation regarding the issuance of bills, excluding bills with the principal and

percent of the term funds were offered to retail investors. The key specific characteristics of term fund are the inability to redeem investment units before maturity date and the possibility of

Businesses and in alignment with the specific characteristics and risks associated with different types of digital assets* while adhering to international guidelines and the practices of foreign

(2018). Under the proposal, the qualifications or prohibited characteristics of digital asset business license applicants, their directors and major shareholders under Clause 3* (10), (11), and (12) (b

Determination of Characteristics of Bills Deemed as Securities (No. 2)

Prohibited Characteristics of Directors, Executives and Major Shareholders of Trustees