Modifying Sec. 18 of the Rules and Regulations Governing Securities Exchanges and Their Members, Brokers, Dealers, Salesmen and Customers

February 26, 1987SEC-BED * MEMORANDUM CIRCULAR NO. 02-87Pursuant to the policy of the Commission to streamline its procedures as well as effectively implement the rules on listing, Section 18 of the Rules and Regulations Governing Securities Exchanges and Their Members, Brokers, Dealers, Salesmen and Customers is hereby modified to read as follows:"SECTION 18. Listing requirements. — . . .If the exchange authorities certify to the Commission that a security has been approved by the exchange for listing, said listing shall become effective immediately and thereafter be noted and made of record by the Commission; Provided the exchange shall not list if the registration statement of the corporation is more than one year, until after notation by the Commission . . . ." digestThis Circular shall take effect immediately. (SGD.) MONICO V. JACOBAssociate Commissioner