Regulatory Alerts2024-04-17
SEC Memorandum Circular No. 07, Series of 2024: Removal of Minimum Commission Charged by PSE Stockbrokers
The Securities and Exchange Commission issued Memorandum Circular No. 07, Series of 2024, to remove the minimum commission rate charged by Philippine Stock Exchange stockbrokers. This regulatory change aligns with the Financial Products and Services Consumer Protection Act and the Philippine Competition Act to foster market efficiency and lower costs for investors. The circular repeals inconsistent rules and takes effect immediately upon publication in two newspapers of general circulation.
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