SEC MC No. 12, Series of 2023: Amendments to Section 39.1.4.1 of the IRR of the Securities Regulation Code

SEC MEMORANDUM CIRCULARNO. _
Series of 2023
TO : ALL CONCERNED
SUBJECT : AMENDMENTS TO SECTION 39.1.4.1 OF THE IMPLEMENTING RULES AND REGULATION OF THE SECURITIES REGULATION CODE In view of Memorandum Circular No. 14, series of 2019, entitled Rules and Regulation Governing Crowdfunding, Section 39.1.4.1 of the Implementing Rules and Regulation of the Securities Regulation Code is hereby amended as follows:
39.1.4. Rules Governing Registrars of Qualified Institutional and Individual
Buyers
39.1.4.1. Authorized Registrars - The following entities which have been granted the appropriate
secondary license by the Commission may be authorized to act as Registrar upon proper application and compliance with registration requirements under these rules:
39.1.4.1.1. Banks with respect to their registration as broker-dealer, Government
Securities Eligible Dealer, Government Securities Brokers and/or underwriter of securities;
39.1.4.1.2. Brokers;
39.1.4.1.3. Dealers;
39.1.4.1.4. Investment Houses;
39.1.4.1.5. Investment Company Advisers; and
39.1.4.1.6. Issuer companies with respect to offerings of their own securities; and
39.1.4.1.7. Funding Portals registered under the SEC Crowdfunding Rules
FOR THE COMMISSION:
EMILIO B. AQUINO
Chairperson
12
Published:
Manila Bulletin, 7 September 2023
Philippine Daily Inquirer, 7 September 2023 Filed with UP Law Center: 7 September 2023