TTnwvestent & ConPeTITION LAvo nui-1 i 1) Evolution of _Cecwuitits dvd Wawetwu [ous iy Jude = (aphal ta Cound Ag, 194 L krpeabted. Tn Seeuuitia Coutya: A a5 uf ao CRaqutatiou) Act; t St at ovis for ding dud ludiveut loutied 2) yivtual ANY Obes Of Ateusitties todig dud yuu 4 : Stowe Enehouys oud 40 fre vuduirable trhurbotion tu AtuuiHta. Gees pe, te i ‘ | Tue power +o le Stour» eexdhougys counou Ju Semuitu and dubia iJ Acwate k L , | Caudal gov. O4d SEB Gujoy Coveusiak jaiidiion & , stabil ahvtut of CERL G4 Worked eal DY fet Lun to protect tuveitor's (Uber ud Kigulal Seu ter > fre = Savi Law ( Avast) het 195 mag, SEB fudedivioy ovr wporalu fu Tuan sassy ue dud esas 4 Acuity.Gapooud CEB a mere eae | wow uLHE Oud providid exlabUsbch o __| Gecugries “APPEWATE “TRiboAts (CATs) to tras appeals ees He ordi, y tu adjuch taking fu —— “Tes Deporttaries Ret, 1% b — |b etalk dupeitariy fo ene tuforwaian tu book at 7 Wentsy torn a Govemmua Seeuritiy Ack, 2006 L | Haga bw 4 govomuua Acwaiey i Tea divectiow , wake {spe ious ail Eis Salta a ie a | violation pe | tt bate ¢ Puater coufes Ou | RBI us paws Aguas cae ue eae teu ho. ——_}— = Concert of Sewemes = + Cecusitin pupuu to Aubtitvtahb oud: frodabh =ffvau tied tustruuuds wits © portoutor ere Voubue i - = Fou Ayu geemitin an #ivauda) TF bs vob tak ivwrtuy ue to iuvut a ual “a + Uouile Cowbouis ust uum 0 vole | Capita. i Geel Hes aan dapiuad us 20) ef Tas Secunia __ toutronts ii WS ‘ AG “Coulis fuclude Alain, Atsipts , ‘Atlee, bouds , | albeatuns , dubuude dock} bows aud ort il Wmaseelabl seeuitie aie ot | Subesporatid Leoupauy “ox ettes baci tonfam | ee = tao of Mest esl a as i > tami = Meet Stuuite ne PRE uid pic wi way wie wed PO) Squib best ily After stroke aud Alar. Ut A : —Atuuitiu eo ita tourpauy's Peporwounts .eS at SS ee nnrrre Giga ae y mitt = ‘aa: | “a | Rupuuss a aE w bowoued oud Hall be | duals ee (utter Se de Abu ita futlude Gov. oud , ve Debt deufffia Coun be Tad o_uuacuuud 4 Huy (ou ca Se price outs ctu ob ja da duet ok beak: a ao aad tay coy al fay ge mer “he ea: you tuteyt: @ duivnitw te palin Ss [evar Fugue) tu (wud Web volut ou oot vuole pews, 1 Ouorter iene wale O1 oe ss he live Artutif taatind liad of cuoudug sowurtlig, | Ma Mun Fis aa ps btn five zeuurtites ot pu. Upon tua . __| Obtiows toutradi_ayr a torus vod we lint a ri a * +n ee @ Aut Hin exist a tific “priv, by @ abediked laa pepeGQ atypia Zeus "i A “Ut ls Type Of Atumity Mat bos ber cube and tity Ceeuities chorruubtista. Mowy judi tutious uae tugbrd euities t> borrow Mo “rove tuwuatore . Sxowply — Couvtibh poudy , uslure 4 houddoldar = Coun Couvest to ally stots Guuting tu boud Ata 0 ak WM uty q er Phufurcd stoves, Hie adlows tolduu to Ainiwe dfuilundds prior to Common Atodeboldin. \ - : Prouctd Mott {tal Macket Caudal fattruvads Ore linet @ fudiutl . chalwu to Ha upital Gtr forwat of Luding & bowroust stl tal al tia ogi ete Moskat Goeoustay Mayu ~ Una Tay Oud Poa abaaay fod Ae He> Wary Hu toe Monee E Pus) + Gock woul Ov Vou Ue buysu ord AUliy oo PMeur 4 erthoudy equi Adu za} public Wrpuratiou, +| Grote works ow cow pouruls 4 Pret wnat “(coun . eda Hy Luray duuowadired Oceen to tauntor fads crea 4 Capitan | _ <> Fre waarkik ecouo ea tu _udhik the (Us of feeds Oud bul On outed ie ir duuroud , witrous ‘ef hod avin Aaaulation : = Da ie Bowhay Ctoue Lrthauy (BSE) |. Atoue aa — Nutioual" Cour iS caas (nse) © CERI to bog Hu Cowie water iu Ll e i Tay ab a faslnont. Oud all r eudlity ti tu te shor ee CRA wait CERT to AL Gud fu Moo Crtbougu tnd fate a (Eup NE Slt, Cou oul ( hupulatina) Re 1956 (4c RA) Jaw ,prous tu Lugas waootk | fo ts eT ae quale oh ee+ Lbcovuu tu Beting Oud tradlug « kuna Wa | Fageateostio Oud Ayulation Mode brokus Gud __ Wub-broleus Oud 4 probobitt of iusto froaiug Listing aud Debistiug ef Seeusitics m <= Mitug of Cecusies was Adwibion WY seuuitiu +to_“dnitluge on yur mh tae tals Ateogureed - stock ext ouge — Sectiou al te het + Objectives Lh *Powds Liquidity to Acunitie [ se mobilize Adwiugs fer Ceomomdie clvelopwaaut ass cob iuttut g {uwustors woul “alt ttl SS “4 oa a Deusting of Cewaries = [heli of seuuitin was puma veromd Of uur is es | oh aa Eisted Coupons ow Har took Qc tt a iscuud . f vt tc a taflabe of tUir, Ba eompony vanuid wo Lougty be mane Of Teal kau: enh . f "SLE Waays OLtnUr rapbeur Udlaur colupawy. chau wot vip) San Mac utah oy ag a wag 14 thou Wok wsttiess Ooh a, | \ m oututally outed to aid ta un = a ae — gees = > 2 —— pow tito fied Tito a ypu ¢ siiedial bl a oll 3 | © Neluutony ais : + Cowpuls vapubiory dtl pormauunt Atusoved of [ [ gece * ikea ui ud fr gtove exe auge r | Os a pudodial ailing aud Of tu Atour "| exc fort faces mies ust. Salli 3 aguisewatuds ae ree) Aistiug, gps su vata the ftw froma ae redo dutiitiuy — Usted itil: ou Te pod om in attusittu fro 0 | ttoon exckia clus to mt | Of acquitted 4 4 vasa tae uy oe | te ot 4 duu_to cece wus of a lara Ou Ha parkiowtor exchange fu tuk wAoneet A dou oxckauge jay Compulsory oluvist Hr Luar 100 iad casa oud Uno 4, Corker CtCumatauta Uke? _s| yoy 004 pl foute wit ta -Ustng ogpetuaul . For “ nduluvu puiod Aik ain “te 4 t cf Foftune 40) dusted. at wiluiuauua trodiug fou yah Chany ou Ha ex ct % dy Promotions: Drtcerons! ob dco jibe fy with Tegan | to fustoun teodiag, wuausipulasion. of nu wat 1) aawket ut proves’ Cte. “eh png a i a a “te | cunt a a Oto ooleqyaawy woul opuatlous, 7 pai “utes Ov olebouturs (out 2-3 tas Wot Moun Uc.| pegyer (PPX Cee ta cei gy et cuss) OA _ Teauapoal uo ua. eee prov antes | Courp Ado tw Lol to usp wrote tu Teta ts_Cowrpa my pouyilag, Han Has Oy Har Acai feud by “pus “ouadk Oca urn Seounitiy , Aubject to 4thix Spkeu to Tuualy 7 held, sit qn staat Comapousits Geb Violator ite trow ot an su ay ety Wha es Jungi AtOUR s us dulisting outs. ; Auulty cae erlang Auch Cour, a “rouapoites mal sdlguind to_Obtalu prior el 4 ilaalad of tts Arun: to wd “by a Apevia “usntuslia at a Geurral Basti Fo or — fons UNDER “TH Aer ) Cook took Exchange == To wake bye- laws fon quouvautr. we —tutidion ou votivg i Haus 0) Hood, tw Wworkil Sian et a ny ath Yow . = = Fiiva at m tes oud oad Mutat Sw wated ond pro fou ae gcthlowd Oh ” " etalua 0 dpa ug taste “4 iaaoi fatto Bt pe ae|) aia 2) Jo Guta Gout Grou and wiitidvoust uHex. to CE. =o a 4o" Conduct dich ivgyavies + Youu to re Bal Py ; Seah, ane, ae Of ouwua) “Sepeen of + Heasee ‘o Wote Tubs Oud +0 divest ‘euls to bi wods- +o ro OWE ¢outrous tu txtalk Cou tao +o Subtgass i powtu to cee! —2 To Se). Has ape Ha aang bye -taum |: AR jud "Ce sates Card 4 dtodd ~ Powell +o woke o + Powerto ives ante ge, ce, ths 1 purous “| astounded with Atualitia usartet = Rowu to imu divtetious to Usted Cyaparies 05 tu Wout to be Usted iv CE =e See “sim oad a soa ss Bs wp. aad Qui dulilt f teri gil ae eae fu Opbiad and | wi> SECURITIES Srp Excrranig: (Reet Pe) ody SEB to proter dtu intent Tur SEB! Aer e owol ts cbailobwund 6, a iumertors gud to | AW? Copital | Atuuitia “wowed, buiolu Aqloliug ; Ut Aut ou Hu fuuatioua und porous 6 CERI aud eftablistus 4 sNuuue “dnd Won LEU . ins Struetun of CEB) 1) Qus \chairwoan — abpeiuted ‘ Gwrai Govt 9D 1 ytd oppsiuys by QB) 12) & wumbuu Uuiou ary inrenee wu dppoiviled s rod Gout 7 Doothw PE CITE a 7 > andl Protecting sty ubtiut aie ts am Pa E % imunstors A i on 404 “eo tus uaa tors — frotaeilt twsicly Pisa oi ea Roaupled | iii faa) eb — Uuer ia vig tana A ‘ * =tonduedug tag une: ' —Prowotlug foi fools ~ Sandi 20 © — Providl ecutadion ty a ua Hur just wl a Stok TOK, tem % Sidiy i es acc Sa oe4) ~ Quasi= Judi Judivat Vous > BeT Ue POU ha Gest gue cay — Eeupaiiagn “au nd pou ms iw tay Bae on | meee estat a v track prouiul iw plu erous Perel Gan dali tas | uw ho pug bsait Faivwrs im Capita warlesi 3) Quasi exeeuiw Paous Alu powvu alin CERI to tuibt Hu beoks 4 ALeovws Ourd oer Bouin pate uM wh q = frau one duapidow | avi i it ae da __ alas a ou, Ho:

Feats of Depository Custer in ucla T aie Di fecustty_ tu duvet fort ~ danetlisy es abet ott taste aa Q Pungabitity Mite OD ty ala ype la 3 Legit ed buuaidal ou. a fang frduufabibty of Maa | heey ).N Novick twvaluid ax tompand {9 plyioa) seauitier = ay= Batr’ o} Powe to quw Suuitia Thee. 0 Lawkiug argue awk, 1959, howe. Wtowu YObaUA _tenusik’ busiues 6h hows “Lu otur oe expe oa ar HET om ertablwud vehi mak Soluiluals | ko faut 40 uiithdravo mou Ma fuusttors 60K woul by dapoxitiva um ius a tu_bowk Atuaitt +5 Secuitiu facwd aby baka iu standard for ~ Coutuls 2 = | 4 = Now actu “ pats opin 4 o ie « Pah wo | Nowdual voir Of ths : ity ___j* Nowa af te ‘eats | thw cy pogwaet- —O ecu Hor Tasued ty Rowe > Cok wot; oe oyaltoy ols fxsued = a b to one ae. a sat iam yt* Iwo bouk wot — Ace. to Se. ced of RBI art, 1934, ABI Akay tow thn Aah Aidt to (ots bouk wotes fu Tusa Ace. +0 ¢.28 of CRU AA, IBY, Couttod Gost. Aral put_futd_civdilation ajupu ai Oud | Auber cuntuey mote Hurouate RR) sue _| Lauper Colv doe wot hum to dguatan of fimouu Secactouy = Acc- 42 RBI, Rowe wotes Aoi be op duroutualio. Of sia s F2, 5,10, 20, 50,100, Ip , 500, 050 “ OL duc “ tamale Valu a Hu Cutral ed OU Attowmauclatt er ead Ohne * [Rown wotes ax igued Vuday tue — 8 mio op RRL. 8 ny fain i —_ = Hien (ob ited 1 hour) a Sea spray De.)~— WUaiglg Bastian of Baa, Bote of Boule: = Debois Luvutwud - Trovate of Parcs x Cousiiug — Lod — Mobil Qui = Iytows Rouktog = ATH Q- Cords - Bowks — 1) Commeyeind Bots (Bowring -dumivs toi qburad’ pulol fe 4 2) dyvituaar Randy (Tavestwand: & adultery 2auils to Courpasule) —Tayestnnd wad Bouukheg 1 . — Slnutwunt bo ponds dy He bd ds war, blader ester Barware huauitiug public and ole pro wldua Various fiuouiol Aun to tle Weg | Fanetioug — ;Laiviug copibad + euinity eee “iM Co iy Fe, Tae = ~ Quatasth=P CECURITIZATION ANH RECorIcTRUC _ASceTS AND ENFORCEMENT pp SEC Act yd003 (CSARERESL Ac) it Bo Law tor allows Inditn hows aud Fiuawial (atitutou to AUN 6 auttiou ty sets | propatia St (reolt dufowttes witheur ™d julavedigu Prous ____ Rw. tou Uuolw tar Aur, oO Contiod airy Of Cecuritison ou _| Auer pial aal Oud ity Tutt (CERCA) | u_oulto coustituted | CERCAL 4b 0 Compl Outiue Control iste | Seu: tubes hae “4 +4 [Le wsou! oebted +o cluue tla frauol uslans Wuultibl Leas | Oe tabu frous olf feet bouts wala Ht Agu Qu | 04 tollorerar. Rowe vile CARRS A on au |feuiut toot for | Now Na forvuiug Arteta (Bad, Loavd) Aovey Ff Tds_hub W_epieutut aia attuned loauy | US boul Cou Wuolulang feet jetties 2 Mil atv aw wor. fo weusitizd lion Aa ener js a Hu_prouduad {o tu tro wty DL NPRS to |. (Obs PE icctuans Couapa + Ye Ar rouatryution Quivitiy iuoe tun te Seuurity lutiet Uitieut Court! ia a Court's [= Ua porous 40 bouks Oud sided. walttultis Xo +elin ove Hun vio ebb prop Hot b | plidaia to tuteu tu astovey si rd Ts Mt provides 3 fistountioe Metitons Fer Attovey st wou= pu fouutg Qaels £ 1) Rasieaien Tru te Pes poo +0 \Weiou dupes oh dubt ‘ine Om AU 95 nite avd otlin Wu a turd Abn Ruwa Ob ovals 40 Cyuustors. 9) Rate Reouthuuiow Thu te ouulty af, Cow g abad sank fore eee asset on e wig auaer os ‘Paet Rtoustuutou Cupowie wig aguas Cetus sigur “abegeusion o lou ~ Uy tte borrow diyoull a bouk u 3 Actua HY luteus si oe FE Toler pow evlow of-tlas drut = an i Aaors oH ae tat sit wu seuaity to AusityYW) 1 é v f ki Fy SS Pp tdtdlal Rt Act duals vst te pies aul rabrotiou Os tts Acousiticd zu brusHow of a by se Gus Aut Facilitedes ea decunlsation tuoutiok oceld fart houks “fruautid tustftudious, TF, Oso _faalitetes ttn Avab tromslir ~ eset Avaudad uae by SP oaiieea © pO aa adie +o aeqmire vga) Ousele from’ bouke featat Atidlous uo Ade CeO a? bovcls ond A Uledes Le 4eton waueial) : ae ose Mud Aus 1 a ; PS) ive Ob p powers « z Fai Act aQlouss Accunrtsation of Arcoustivd ae 4p Toisk funds by - feunties ‘ provide fat ta daa a 0 ASA 7104 A Aso gistuad wilt 28), Est q PLUK epeeLE audtionu banka “ Lie, ~__ twttutfoug to tale boseliou Sf te 1 deuuttter. A This Act powder o eee: alwal oh bawk ly. “atiteiou a faa ie tet Dee |C pebt Combo Comt . BRAT CCA Clotetton Cou ¢ y P bal). ea © “py seo ‘i Pe Fe | i 3 iY & ze k5 > da bostouw CARPRERL Ate Z — Notebook => Tw “Debt _sevovty Taboual CDT) Befou 129%, te vO O probina ( 4 (ose wrur Meted fy | aa Cots Oud tus prourdiug Used to olin : sgl a iu raed Sue “tus Ricovey oy Debt 2 Raweruptoy tet AAS you pomed Oud dia Lod to +4t catalelh Wut] Of DOR. Judit (ory Onc tap iu tts xt OV fu to bauer Gud ott. eet | DAT a quoni- Juoticiod Modutory: Twttatton: CARPAES! Atk ,d602 alo prowichs, accem to DAT. — DAI ih lucptta by Pruidiug Our appeluba 4 A ogi DRT ovo Lic woe tty Ratow Rppulale abel: aaa, ? ) Bete Ow A tr CRC ond pot Telos a ue Das tbo CHOU - i, Coates Chajwas. du bah abou Lb Offs. a ob EDs fc. aug 49 oalvaticab Chadw 4 Spray Hon FlOrh apd Hi Puat -. 2 Sh ius Wo TO > ta0 lark ju L018. epert ee tae Hur adfuclltation ,o gee ‘isu deidneaud oe Nina a at et borrower © euuted a otur os 03. bt fhe = ——Prouolur of re lug iudoust 42%. PRE pried tu oe 34 DRT DRI, nin iaeeh —the BW Application. frou Bo f \ rte Cuatibations. fot stucoveny Of Abb wstick axe duc. es { tts Gude td (Ow PD waa ta didn (Mua jus ata fee — ea tah i a ee} se a ths fad toda au ka, ad phe i rae eu sn esc fi ak= DR ape. Luansivg bot bowie oud terir Lubwliies Lsoutd” poss Hue Vfivod OFA ws ZO dou “frow tu trtasiug Gud DAT WU iMus o vetiviny Certifitali psittduS {8 Frow + dob af ecg wut ond A to xe oye poss Laud 2 tow sk [Sakpaes) tus Aer provide atees t> Bouts and Pl vad tu | ____ atk FA Ateovi Aetud olubt frow borrow vartout tu fi iain Cowd + fr Ushi O Loon Y CLacified ai NPR. A wotiu Ub Alu +o te borvowy ond jh Hu b ovrowe foil fo Comply | wsieh tu wot Hab Cuddtor Oud ROuk 4 | Gditid to tae Hee orovtulap “4 secured one - PT rows outiou Of DET -Lopbua wylun Hau collatea) Quer U uot BH ud tuouglo fo {ulgih a SbAigatton (Ae Has cualitors. Tonga usith u oe fill —Clotwa Less tho. of DRX tu Ladi; Uart-3 | + Foreign Exctance NANAGEMENT Aur, 1999 _Cfeés) ae te for waiun gin oud Augrulating forclye Ge TTuis Atl WOs pancd es prowate ¢ OVULALOs rm oud Cr Peesaust tw Lunda dug +> promote duvuop WABAd Ooh wasuuted uo 9 5 foreigy exchaugs owaueat ta “nda. Tek ee = =f Sali quod Ohad, tu Dells whi @ pow O4 Era _ Guforumauat " pheeiels “ : 2 hata biaood Fiaat propo iu a yens (OE he ci tems fr os oe He ia 4 aug 2 ie krplaud Hae Costin Act ies tuastuekae foots | a ani yuaop a Ladson) dancin o>tI (| Tht Mowopatiu and Rustietive “Trade Proctin Act, (0c 94 — CMRTE: Ack) 2 [ie ud Her 12T Coup ition as oteblivad ih Blears ug Fe sos pared ust sa. geat Of wauatug dat 4 Me ee dus BL Atucruu gud did Mot Artaitt TH) Hu Loutatroein 0) tu ale / [tae fluo bonds Ta 149), ecomnware Libualiation was tutroolutd. Ludi tub ebivivaKen Of tyads barrivu, Hu warou i teu fate COUbeHY Oy feo. both wirttlu and ty anucne walt i Following erouowde Lbeatication 141 it bitous Ltsuntied to estoblity 0 Comberton Lao Adsli thot WO Woe Avlevant to olpyustte CCOU dude for Gund couapoti bbe Wit it. proction ; Tw NRTP Act uso -Arbeobed . bad Stplavol “Tus Competition nat F =f © fartiowust tuoeted tus ee ty | Gubi—Couspetitivt Iyabowiour Of firs iA Tustin Hate eae | Tareas aueh buhowous trot Gave an Rp paretably Relvere effect bu Comapuition @REC) Ths to diwelep ond pRuuwe on Chur just, is Couapekiive, Oud Chote euvtrouWaut Haak uth | protect tt tuteusts OF Lowsuntts ound Poste Loug-ten CCOUNUE prequs 1 tht VOKO.