Guidelines on the Applications for Payment of Annual Fees of Capital Market Participants (Institutions and Professionals)

October 13, 2016SEC MEMORANDUM CIRCULAR NO. 17-16SUBJECT:Guidelines on the Applications for Payment of Annual Fees of Capital Market Participants (Institutions and Professionals) The Commission En Banc, in its meeting of 01 October 2015 and confirmed on 29 September 2016, resolved to adopt the following Guidelines: 1. These Guidelines apply to the following SEC-registered/licensed Capital Market Participants: Brokers Dealers in Securities ("BD"), Brokers in Securities ("B"), Dealers in Securities ("D"), Brokers in Proprietary Shares ("BPS") Voice Brokers ("VB"), Investment Houses ("IH"), Investment Houses Engaged in Dealing Government Securities ("IH-GSED"), Underwriters of Securities Engaged in Dealing Government Securities ("US-GSED"), Government Securities Eligible Dealers ("GSED"), Investment Company Advisers ("ICA"), Mutual Fund Distributors ("MFD"), and their respective Associated Persons ("AP"), Compliance Officers ("CO"), Salesmen ("S"), Fixed Income Market Salesmen ("FIMS") and Certified Investment Solicitors ("CIS").2. Payment of annual fees shall be in November of each year. Applications for Payment of Annual Fees filed in December of the same year shall be considered late and shall be charged a surcharge of fifty percent (50%) of the annual fees while applications...