Today is April 25, 2019

Transfer Agents

I. Checklist of Requirements

Type Filing Fee Checklist
Broker in Securities icon_pdf
Broker Dealers in Securities icon_pdf
Brokers in Proprietary Shares icon_pdf
Dealer in Securities icon_pdf
Government Securities Eligible Dealers icon_pdf
Investment Houses icon_pdf
Investment Houses Engaged in Dealing Government Securities icon_pdf
Investment Company Advisers icon_pdf
Mutual Fund Distributors icon_pdf
Transfer Agents icon_pdf
Underwriters of Securities Engaged in Dealing Government Securities icon_pdf
Voice Brokers icon_pdf

 

II. PROCEDURES - Application for Certificate of Registration

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

 

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