Schedule of Fees, Fines and Penalties

November 29, 2002 SEC MEMORANDUM CIRCULAR NO. 17-02 TO : All Government Securities Eligible Dealers (GSED) SUBJECT : Schedule of Fees, Fines and Penalties To ensure an orderly, efficient, transparent and fair government securities (gs) market, and pursuant to Rule 13.3.1 (c) of the Amended Rules Governing Secondary Market Trade of Government Securities, the Securities and Exchange Commission, hereby adopts the following schedule of fees, fines and penalties for Government Securities Eligible Dealers (GSED): 1. Fees Date of filing Amount New Registration Head Office P50,000 + other fees Branch Office 10,000 + other fees Renewal November 2 Head Office P20,000 + other fees Branch Office 5,000 + other fees 2. Fines and Penalties Basic Penalty for Violation Violations First Offense Second Offense Third Offense Penalty for every day during which the violation continues a) Failure to 1/5 of 1% of 2/5 of 1% of the 3/5 of 1% of the P100.00 indicate Value the aggregate aggregate price aggregate price Received (VR) price or value or value of or value of on the trade of securities securities securities transaction transacted transacted but transacted but but not less not less than not less than than P3,000.00 P5,000.00 P10,000.00 b) Cancellation P3,000.00 P5,000.00 P10,000.00 P100.00 of trade trans- action due to double encoding of transaction, i.e. sale, purchase, earmarking. c) Late and/or P3,000.00 P5,000.00 P10,000.00 P100.00 non-reporting of gs trades to clients. d) Erroneous P1,000.00 P2,000.00 P3,000.00 P100.00 encoding of trade details i.e. value date, account no., dealer code, ISIN, face value, tenor, counterparty's name. e) Other P1,000.00 P2,000.00 P3,000.00 P100.00 violations determined by the BTr This Memorandum Circular shall take effect immediately. November 29, 2002. Mandaluyong City, Philippines. ATSIED (SGD.) LILIA R. BAUTISTA Chairperson