Partners/Executive Officers/Officers Representing a Brokerage Firm on the Floor of the Exchange Must Register as Salesman
SEC-BED Memorandum Circular No 01-88 • Securities and Exchange Commission Departments • Markets and Securities Regulation Department (MSRD) • Jan 14, 1988
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January 14, 1988 SEC-BED * MEMORANDUM CIRCULAR NO. 01-88 TO : Manila Stock Exchange Makati Stock Exchange Stockbrokers/Dealers RE : Partners/Executive Officers/Officers Representing a Brokerage Firm on the Floor of the Exchange Must Register as Salesman For the information and compliance of all concerned, partners of a partnership, executive officers and officers of a corporation or other associations registered as stockbrokers must be registered or licensed as salesman of securities before said partners, executive officers and officers could represent the licensed broker/dealer on the floor of the exchange, pursuant to the provisions of Section 19 in connection with Section 2 (g) of the Revised Securities Act. Likewise, partners or staff members of brokerage firms authorized to solicit business for the firm on the floor of the Exchange or outside of office, whether on commission or salary basis must be registered with the Commission as salesman. Strict compliance of all concerned is hereby enjoined. (SGD.) ROSARIO N. LOPEZ Associate Commissioner February 9, 1988 CIRCULAR NO. 29-88 For your information, quoted below is a letter from the SECURITIES AND EXCHANGE COMMISSION dated February 8, 1988 "SECURITIES AND EXCHANGE COMMISSION February 8, 1988 MANILA STOCK EXCHANGE Binondo, Manila Gentlemen: Relative to BED Circular #1, Series of 1988, please be advised that the following should secure the required license for salesman: 1) Associate members 2) Floor brokers 3) Agents/sub-agents 4) Provincial Correspondents 5) Principal officers of stock broker firms which are not members of the stock exchanges 6) All other persons who solicit for the broker-firm. Kindly submit the applications of your candidates not later than February 19, 1988 for the examination to be conducted on February 26, 1988 at 2:00 o'clock in the afternoon at the respective exchanges. However, starting March 1, 1988 all principal officers, including members of the stock exchanges shall be required to take the licensing examination conducted by the SEC from time to time. LexLib Please be guided accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner" Members are requested to advise all their officers/personnel concerned to be at the Exchange on February 26, 1988 at 2:00 P.M. to take the SEC examination. (SGD.) JOSE G. CERVANTES General Manager
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