Charter

Name

The name of the organization shall be the Asia Forum for Investor Education (hereinafter, the AFIE).

Objectives

The AFIE shall represent the Asia-Pacific region operating as a regional subcommittee of the International Forum for Investor Education (hereinafter, the IFIE). The primary objective of the AFIE is to facilitate investor education and information exchange, ultimately contributing to the development of capital markets in the Asia-Pacific region.

Business Activities

To accomplish the objectives described in Article 2, the AFIE is committed to:

• serving as a forum for cooperation and information exchange on investor education in the Asia-Pacific region;
• promoting activities for the development of the region's capital markets and investor education; and
• promoting activities needed for further cooperation with the IFIE and facilitation of investor education.

Membership

• With the purpose of attracting the widest range of AFIE members from across the Asia-Pacific region, from the date of inauguration until January 31, 2011, there shall be one category of membership.
  • Inaugural Members shall consist of organizations that participate in the inaugural General Meeting of the AFIE, except for those that indicate they do not wish to join the AFIE. Inaugural Members may vote at the General Meeting.
  • The category of Inaugural Member shall expire on January 31, 2011, and be replaced with the membership categories set forth in item (2).
• To reflect the AFIE's role as a regional body of the IFIE, from February 1, 2011, there will be three categories of members for the AFIE, as set forth in the IFIE Principles for Regional Subcommittee Member 1) :

  1) : The IFIE Advisory Committee will consider creating criteria for a new IFIE membership category that will reduce the likelihood that any organization will not be able to join IFIE because of financial circumstances.

  • Regular Members: Members of both the AFIE and the IFIE. Regular Members may vote at the General Meeting and may serve on the AFIE Advisory Committee. Regular Members of the AFIE are not permitted to serve as voting members on any other IFIE Regional Subcommittee.
  • AFIE Subcommittee Members: Members that have not yet joined the IFIE but intend to become a member of the IFIE within two years of joining the AFIE. AFIE Subcommittee Members may not vote on any AFIE matters or serve on the AFIE Advisory Committee. AFIE Subcommittee Members must resign from the AFIE if they have not become members of IFIE within two years.
  • Affiliated Members are IFIE members who attend AFIE Subcommittee activities and events but may not vote on AFIE matters or participate in the AFIE Advisory Committee.
• An organization that wishes to join the AFIE after the inaugural General Meeting shall submit an application form to the Secretariat. Membership category shall be determined according to the criteria set forth in item (2) and shall become effective upon approval by the Secretariat.
• The Secretariat shall immediately notify all AFIE members of the addition of a new member.

Resignation

The resignation of a member from the AFIE shall be made in writing and will become effective immediately upon receipt by the Secretariat

General Meeting

• A General Meeting of the membership of the AFIE shall be convened annually, preferably, if possible, in the first half of the calendar year. 2)

  2) : The General Meeting will be held in Seoul in 2010 and 2011. Starting from the 2012 General Meeting, the location will be selected from among member countries.

• An Extraordinary Meeting of the AFIE may be convened, when deemed necessary by the Chairman or by one third or more of all Regular Members and Inaugural Members of the AFIE.

Quorum

Quorum shall consist of a majority of all Regular Members and Inaugural Members of the AFIE.

Voting, Representation, Proxies

• All Regular Members and Inaugural Members of the AFIE shall have voting rights.
• Each Regular Member or Inaugural Member shall exercise one vote and shall appoint a principal delegate to vote on its behalf.
• Principal delegates may be changed at any time through written notification to the Secretariat.
• A member may appoint another member to vote as its proxy.

Organization

• The AFIE leadership shall consist of the Chairman, the Advisory Committee and the Secretariat.
• The Chairman shall represent the AFIE and chair the Advisory Committee. The Chairman is selected upon the recommendation of the members. The term for the Chairman shall be one year with eligibility for an additional one year extension. However, the term for the inaugural Chairman shall be for 2 years. 3)  The Chairman shall be a member of the IFIE Global Subcommittee for Regional Subcommittees.

  3) : The inaugural Chairman's term is set for two years to ensure stability for the AFIE after its launch.

• The Advisory Committee shall consist of the Chairman, four AFIE members, and one IFIE Advisory Committee representative. The Advisory Committee shall discuss, review, and approve all matters pertaining to the AFIE activities. Members of the Advisory Committee, except the IFIE Advisory Committee Member, shall be selected upon the members's recommendation and approval. The term for Advisory Committee members shall be for two years.
• Business activities of the AFIE shall be executed by the Secretariat. The Korea Financial Investment Association shall serve as the Secretariat of the AFIE. The Secretariat may, if deemed necessary, represent the Chairman at the IFIE Advisory Committee and the IFIE Global Subcommittee for Regional Subcommittees.

Duty as a Regional Body of the IFIE

The AFIE Charter and all other agreements created by AFIE cannot contradict the IFIE Charter, Policies and Procedures and Code of Practice.

Business Year

The business year of the AFIE shall begin on January 1 and end on December 31 of the same year.

Dissolution

Should the Advisory Committee resolve to recommend the termination of the AFIE, such a recommendation shall be presented to the membership at an extraordinary meeting. Following the agreement of three-quarters of all Regular Members of the AFIE, the AFIE shall thereafter be immediately dissolved.

Effectiveness

This Charter shall become effective from the date of the inauguration of the AFIE.