Amendment to RSA Rule 19-1 — Registration of Brokers and Dealers and their Personnel

September 21, 1999 PSE CIRCULAR FOR BROKERS NO. 2379-99 SUBJECT : Amendment to RSA Rule 19-1 Registration of Brokers and Dealers and their Personnel Please be advised, that the Securities and Exchange Commission (SEC) recently issued SEC-BED Memorandum Circular No. 04, Series of 1999, amending RSA Rule 19-1, to the effect that a certified securities representative/salesman who has failed to renew his license for a continuous period of at least five (5) years shall be treated like a new applicant in consideration of the substantial changes the securities statutes, regulations and industry practices may have undergone during that period. cdll Accordingly, in order to be licensed anew, the applicant must re-take and pass the written examination conducted by the SEC or any SEC authorized institute. The applicant need not, however, attend the prescribed securities training course/seminar. Attached is a copy of said SEC-BED Memorandum Circular No. 04, Series of 1999. llcd For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & CEO September 3, 1999 PHILIPPINE STOCK EXCHANGE, INC. Philippine Stock Exchange Center Exchange Road, Ortigas Center Pasig City Attention: Mr. RUBEN L. ALMADRO Vice President, Compliance and Surveillance Group Gentlemen: Transmitted to your herewith is a copy of the SEC-BED Memorandum Circular No. 04, Series of 1999. Please ensure that this is disseminated to all your member brokers/dealers. cdll ELIZABETH C. MARTIN Director Brokers and Exchanges Department SEC-BED MEMORANDUM CIRCULAR NO. 04 TO : All Concerned San Miguel announced in August 1999 plans to sell its stake in Coca-Cola Amatil through a global bookbuild offering subject to San Miguel Board approval and favorable market and pricing conditions. However, the share price upon conclusion of the bookbuild process did not reflect San Miguel's views on the inherent long term value of Coca-Cola Amatil. LexLib SUBJECT : Amendment to RSA Rule 19-1 The Commission En Banc, during its Executive Session held on May 27 1999, resolved that a certified securities representative, salesman who has failed to renew his license for a continuous period of at least five (5) years shall be treated like a new applicant in consideration of the substantial changes the securities statutes regulations and industry practices may have undergone during that period. Accordingly, in order to be licensed anew, the applicant must re-take and pass the written examination conducted by the Securities and Exchange Commission (SEC) or any SEC authorized institute pursuant to SEC BED Memorandum Circular No. 4 Series of 1999. Applicant need not however, attend the prescribed securities training course/seminar. FOR IMMEDIATE .AND STRICT COMPLIANCE. EDSA, Greenhills, Mandaluyong City