Letter of Securities and Exchange Commission
PSE Circular for Brokers No. 2412-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 21, 1998
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October 21, 1998 PSE CIRCULAR FOR BROKERS NO. 2412-98 SUBJECT : Letter of Securities and Exchange Commission Quoted hereunder is a notice from Securities and Exchange Commission (SEC) received on October 20, 1998: ". . . In connection with the renewal of the licenses of broker/dealers in securities and their securities representatives, please remind your members that the period for renewal of licenses shall be from November 2 to December 2, 1998. Applications for renewal of licenses shall be made by filing three (3) copies of the appropriate form, duly accomplished, and payment of the prescribed fee to wit: RENEWAL FORM RENEWAL FEE Broker/Dealer SEC Form 19-BDR P1,000.00 + legal research fee * Salespersons SEC Form 19-SR P500.00/salesperson + legal research fee * * legal research fee is 1% of the renewal fee or P10.00, whichever is higher The broker/dealer applicant should attach to each copy of SEC Form 19-BDR a copy of the surety bond required under Sec. 19 par. 4 of the Revised Securities Act, accompanied by the required clearances of the bonding company issued by the Supreme Court of the Philippines, the Regional Trial Court of the locality wherein the principal office of the insurance company is located, and a statement from the Office of the Insurance Commissioner that the authority of the bonding company to issue surety bond is still valid and the maximum amount it can underwrite per risk. Applications filed beyond the prescribed period shall be treated as original and the corresponding fees therefore, which are double the renewal fees, shall be charged. LexLib Copies of SEC Forms 19-BDR and 19-SR are now available at the Brokers and Exchange Department, 6/F SEC Bldg., EDSA, Mandaluyong City. Should you have any question, please communicate with the Brokers/Dealers Division of the Brokers and Exchanges Department at telephone no. 727-31-64 or 726-09-31 to 39 loc. 225. . ." For your information and guidance. (SGD.) JOSE LUIS U. YULO, JR. President & Chief Executive Officer
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