Amendments to Section 39.1.4.1 of the Implementing Rules and Regulations of the Securities Regulation Code

September 7, 2023 SEC MEMORANDUM CIRCULAR NO. 12, S. 2023 TO : All Concerned SUBJECT : Amendments to Section 39.1.4.1 of the ImplementingRules and Regulations of the Securities RegulationCode In view of Memorandum Circular No. 14, series of 2019, entitled Rules and Regulations Governing Crowdfunding, Section 39.1.4.1 of the Implementing Rules and Regulations of the Securities Regulation Code is hereby amended as follows: AIDSTE 39.1.4. Rules Governing Registrars of Qualified Institutional and Individual Buyers 39.1.4.1. Authorized Registrars The following entities which have been granted the appropriate secondary license by the Commission may be authorized to act as Registrar upon proper application and compliance with registration requirements under these rules: 39.1.4.1.1. Banks with respect to their registration as broker-dealer, Government Securities Eligible Dealer, Government Securities Brokers and/or underwriter of securities; 39.1.4.1.2. Brokers; 39.1.4.1.3. Dealers; 39.1.4.1.4. Investment Houses; 39.1.4.1.5. Investment Company Advisers; and 39.1.4.1.6. Issuer companies with respect to offerings of their own securities; and 39.1.4.1.7. Funding Portals registered under the SEC Crowdfunding Rules . FOR THE COMMISSION: (SGD.) EMILIO B. AQUINO Chairperson Published in the Manila Bulletin and Philippine Daily Inquirer on September 7, 2023.