Regulations Governing the Conduct of Discretionary Investment Business by Securities Investment Trust Enterprises and Securities Investment Consulting Enterprises Article 29

A SITE or a SICE that conducts discretionary investment business shall compile for each customer a regular monthly record of trading on the customer's assets and a report on the current status of those assets, to be delivered to the customer.At any time impairment of the net asset value of a customer's discretionary investment assets equals 20 percent or more of the value of the original discretionary investment assets, the SITE or SICE shall produce the report referred to in the preceding paragraph and deliver it to the customer within two business days from the date of the event. The same shall apply in each subsequent case of impairment equaling 20 percent or more of the net asset value stated in a previous report.When a customer's discretionary investment assets are the assets of a special ledger account for investment-linked insurance or Labor Pension Act annuity insurance, then at any time impairment of its discretionary investment account assets equals 5 percent or more of their per-unit value on the previous business day, the SITE or SICE shall produce the report referred to in the paragraph 1 and deliver it to the customer within two business days from the date of the event, without regard for the provisions of the preceding paragraph.The percentage given in the preceding paragraph may be adjusted with the customer's consent or by stipulation in the discretionary investment services contract, but may not exceed 10 percent.If a discretionary investment business customer meets the conditions set out in Article 11, paragraph 6, the SITE or SICE and the customer may agree between themselves on the treatment of reporting obligations, and are exempted from application of the provisions of paragraphs 1 and 2.