MC No. 17 s.2002 - RE : Schedule of Fees, Fines and Penalties

SEC MEMORANDUM CIRCULAR NO. 17 Series of 2002 TO : All Government Securities Eligible Dealers (GSED) SUBJECT : Schedule of Fees, Fines and Penalties To ensure an orderly, efficient, transparent and fair government securities (gs) market, and pursuant to Rule 13.3.1 (c) of the Amended Rules Governing Secondary Market Trade of Government Securities, the Securities and Exchange Commission, hereby adopts the following schedule of fees, fines and penalties for Government Securities Eligible Dealers (GSED): 1. Fees Date of filing Amount November 2 New Registration P 50,000 + other fees Head Office 10,000 + other fees Branch Office Renewal P 20,000 + other fees Head Office 5,000 + other fees Branch Office 2. Fines and Penalties Basic Penalty for Violation Penalty for every Violations First Offense Second Offense Third Offense day during which the violation continues a) Failure to 1/5 of 1% of the 2/5 of 1% of the 3/5 of 1% of the indicate Value aggregate price or aggregate price or aggregate price or Received (VR) on value of securities value of securities value of securities P100.00 the trade transacted but not transacted but not transacted but not transaction less than less than less than P3,000.00 P5,000.00 P10.000.00 b) Cancellation of trade transaction due to double encoding of P3,000.00 P5,000.00 P10,000.00 P100.00 transaction, i.e. sale, purchase, earmarking.

c) Late and/or P3,000.00 P5,000.00 P10,000.00 P100.00 non-reporting of P1,000.00 P2,000.00 P3,000.00 P100.00 gs trades to P1,000.00 P2,000.00 P3,000.00 P100.00 clients. d) Erroneous encoding of trade details i.e. value date, account no., dealer code, ISIN, face value, tenor, counterparty's name. e) Other violations determined by the BTr This memorandum circular shall take effect immediately. November 29 , 2002. Mandaluyong City, Philippines. (Original Signed) LILIA R. BAUTISTA Chairperson