Approving the Proposed Amendment to Section 6 of Article III (Disposition of Cases) in the CMIC Rules

February 2, 2012 SEC-MRD OPINION Capital Markets Integrity Corporation PSE Plaza Ayala Avenue, Makati City Fax: 659-6001 Attention: Mr. Antonio Garcia Jr. President Gentlemen : Please be informed that the Commission in its meeting held on 2 February 2012 resolved to APPROVE the proposed amendment to Section 6 of Article III (Disposition of Cases), in the CMIC Rules, to read as follows: "Section 6. Request for Reconsideration from CMIC Decisions . An aggrieved party may seek reconsideration of a decision or action of CMIC within ten (10) business days from receipt of such decision or action, provided, however, that if the decision is a summary action under SRC Rule 39.E, the period of appeal shall be five (5) business days from receipt of the decision. The request must be in writing, addressed to the CMIC Board, with proof of service to the adverse party, if any. No filing fee shall be required for the CMIC Board to consider the appeal. The request shall be signed by the aggrieved party and shall set forth a concise statement of facts, the issues involved and the grounds relied upon. If necessary, the aggrieved party may attach thereto documents referred to in the written appeal." Hence, the existing Section 6 and the succeeding sections in Article III shall be renumbered accordingly. Following our procedures, you are required to submit to this office immediately four (4) copies of Article III of the CMIC Rules, as amended, bearing the initials of two CMIC officials on each page of said rules and procedures. The copies bearing the initials of CMIC officials and the Director, Market Regulation Department, SEC, shall be the official copies. IaEACT Very truly yours, (SGD.) VICENTE GRACIANO P. FELIZMENIO, JR. Director