August 15, 1996
THE NET CAPITAL RULE, BOOKS AND RECORDS AND OTHER RELATED RULES
RSA Rule 19-2. Rule Fixing the Amount of Stockbrokers/Dealers
Surety Bonds.
The amount of surety bonds required to be filed, pursuant to the Revised Securities Act by stock brokers and dealers, is fixed at not less than Five Million Pesos (P5,000,000.00) for brokers, and not less than One Million Pesos (P1,000,000.00) for dealers. Such bonds shall run to the Government of the Philippines and be conditioned upon the faithful compliance with the provisions of this Act by said broker or dealer and by all salesmen while acting for him. Such bond shall be executed by a surety company authorized to do business in the Philippines. In lieu of such bond, he may file bonds of the Government of the Philippines. If a bond is filed, any person damaged by the failure of such broker or dealer or of any salesman while acting for him, to comply with the provisions of this Act, shall be entitled to sue the sureties under such bond and to...
