(Note1) For the authority that the SESC delegates to Director General of Local Finance Bureau or the Director of its branch office, the SESC directs and supervises Director General of Local Finance Bureau or the Director of its branch office. (Securities and Exchange law: Article 194-6 (7))

(Note2) For an investigation of a criminal offence, the SESC directs and supervises the Director General of a Local Finance Bureau or the Director of its branch office. The SESC may, deeming it necessary for investigating a criminal offence, direct and supervise firsthand an official of a Local Finance Bureaus or the Director of its branch office. (Securities and Exchange law: Article 224(4) and (5))

(Note3) The SESC does not delegate authority to the Director-General of local finance bureaus, etc. related to financial instrument business operators designated in the following public notices

• The public notice to designate a financial instruments business operator, etc. under paragraph 5, Article 44 of the order for Enforcement of the Financial Instruments and Exchange Law and paragraph 2, Article 136 of the Order for Enforcement of Act on Investment Trust and Investment Corporation
• The public notice to designate a financial instruments business operator, etc. under paragraph 6, Article 24 of the order for Enforcement of Act on the Prevention of Transfrer of Crime proceeds