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- Capital Market Intermediaries
Application for Certificate of Registration
Who are the Capital Market Intermediaries
Broker in Securities
Broker Dealers in Securities
Brokers in Proprietary Shares
Dealer in Securities
Government Securities Eligible Dealers
Investment Houses
Investment Houses Engaged in Dealing Government Securities
Investment Company Advisers
Mutual Fund Distributors
Transfer Agents
Underwriters of Securities Engaged in Dealing Government Securities
Voice Brokers
Filing Fee and Checklist of Requirements
Type | Filing Fee |
Broker Dealers in Securities | |
Broker in Securities | |
Dealer in Securities | |
Brokers in Proprietary Shares | |
Government Securities Eligible Dealers | |
Investment Houses | |
Investment Houses Engaged in Dealing Government Securities | |
Underwriters of Securities Engaged in Dealing Government Securities | |
Investment Company Advisers | |
Mutual Fund Distributors | |
Transfer Agents |
Procedures
Processing Procedure | Subject of Evaluation | Processors | Processing Time |
1. Applicant presents SL documents to LU OD. (In some cases, the SL documents are not ready, with the applicant not knowing that the Purpose being applied for requires SL; LU OD gives applicant CORs) | All documents required | OD | 1 minute |
2. LU OD takes SL documents to LU AD for assignment; AD assigns to LU SC/SS. (Applications presented to the EB should be assigned to SC; LU has no SC since 2014, so these are now assigned to the LU SS) | All documents required | OD/AD | 1 minute |
3. LU SC/SS evaluates 4 sets of SL documents vis-à-vis COR. (If with deficiencies, LU SC/SS retains the originals and returns 3 copies to applicant, with the COR citing deficiencies.) (Per experience, it takes time for applicant to fully comply with the requirements.) | All documents required vis-à-vis compliance with pertinent laws and SEC rules and regulations | SC/SS | 1 working day |
4. LU AD reviews application with LU SC/SS. (If still with deficiencies, applicant is given another COR citing the deficiencies; application is returned to applicant for compliance.) | All documents required vis-à-vis compliance with pertinent laws and SEC rules and regulations | SC/SS | 15 working days |
5. LU AD prepares the Memo to EB, with LU SC/SS. (The LU SC should be the one preparing the Memo to EB, since LU has no SC, the AD has to, prepare it with the LU SC/SS.) | Memo and all documents required | SC/SS | 2 days |
6. LU Clerk forwards Memo to CRMD D | 5 minutes | ||
7. CRMD D okays Memo and instructs LU to issue PAF. | D | 1 working day | |
8. LU SC/SS issues PAF; advises applicant to show SL PAF to CPRD SS as go signal that PR PAF may also be issued (so that both PR & SL filing fees may be paid together) | PAF | SC/SS | 15 minutes |
9. Upon receipt of SL documents from CFRD, LU SC/SS re-evaluates the SL documents. (If with deficiencies (e.g., documents evaluated different from what was received by CFRD; missing documents), applicant is called for conference, given another COR citing the deficiencies; SL documents are returned to the applicant for compliance.) | Memo and all documents required vis-à-vis compliance with pertinent laws and SEC rules and regulations | SC/SS | 5 working days |
10. LU AD finalizes the Memo; LU SC/SS and LU AD initial Memo | Memo and all documents required | SC/SS/AD | 1 working day |
11. CRMD D signs Memo and forwards it to the EB, through the Supervising Commissioner | Memo and all documents required | D and Staff | 30 minutes |
12. EB deliberates on/approves application. (In case of any finding, the Memo and SL documents are returned to CRMD for appropriate action) | Memo vis-à-vis compliance with pertinent laws and SEC rules and regulations | EB | 1 working day |
13. Upon receipt of EB-approved Memo from CRMD D, LU SC/SS prepares and initials CA/CR | CR/CA vis-à-vis consistency with all documents required | SC/SS | 30 minutes |
14. LU AD reviews and initials CA/CR. | CR/CA vis-à-vis consistency with all documents required | AD | 10 minutes |
15. CRMD D signs CA/CR. | CR/CA vis-à-vis consistency with all documents | D | 10 minutes |
Note :Duration of activity under normal circumstances
Legend | |||
LU-Licensing Unit | SL-Secondary License | OD-Officer of the Day | COR-Checklist of Requirements |
D-Director | SC-Securities Counsel | SS-Securities Specialist | AD-Assistant Director |
EB-En Banc | PAF-Payment Assessment Form | CR-Certificate of Registration | CA-Certificate of Authority |