Guidelines for the 2005 Renewal of License of Mutual Fund Distributors and (MFD) their Certified Investment Solicitors (CIS)
What this is For:Guidelines for the 2005 Renewal of License of Mutual Fund Distributors and (MFD) their Certified Investment Solicitors (CIS)
How to File:
D. Present your application forms and supporting documents with the Securities Specialists of the Market Regulation Department (MRD) from 9:00am to 12:00nn and 1:00pm to 4:00pm only before filing the documents with our Central Receiving Unit at the ground floor.
The MRD will only accept the most recent version of the application forms for renewal of licenses which are duly filled up and supported by the complete set of documentary requirements. All four (4) sets of applications and their respective supporting documents must be accompanied with a cover sheet. The first set of application form must consist of original copies of all the required supporting documents and labeled accordingly as SEC COPY on its cover page and on the first page of the pertinent application form.
E. For soft copies of the above-mentioned revised SEC Forms, you may download them at www.sec.gov.ph. If you have additional queries, you may contact Atty. Celso Virgilio C. Ylagan IV, Ms. Tess Soriano, or Mr. Alvin Fundamera of the MRDs Broker Dealer Division at Telephone No. 727-3164.
1 Payment of Php 1,420.00 registration fee is applicable for the license period January 1 to December 31, 2005.
Other Documentary Requirements:
When Filing of applications and their supporting documents will be accepted during the whole month of November 2004 (Not yet updated)
B. Attachments / Documentary Requirements Requirements:
FOR MUTUAL FUND DISTRIBUTORS (renewal):
1. Four (4) sets of duly accomplished SEC Form MFD SEC Form MFDwith original signatures of the companys President (see attached revised form). The application forms shall likewise be originally signed as reviewed by the Associated Person.
2. Original copy of the current Memorandum of Agreement / Distribution Agreement between the Investment Company Adviser/Mutual Fund Company and the Firm (valid for the licensing year January 1 to December 31, 2005) or Board Resolution from both the Mutual Fund Distributor and Investment Company Adviser/Mutual Fund Company confirming the existence and validity of their Distribution Agreement for the year 2005, as may be appropriate.
3. Covering letter identifying the names, the respective Certificate of Registration numbers (as assigned by the Department and indicated on the 2004 license), and Tax Identification Numbers of the applicants Certified Investment Solicitors.
4. Proof of submission to the Commission of the broker dealers revised AntiMoney Laundering Manual pursuant to SEC Memorandum Circular No. 12, series of 2004, and a Board Resolution stating the date of its adoption.
FOR CERTIFIED INVESTMENT SOLICITORS (renewal):
1. Four (4) sets of duly accomplished SEC Form ICA-RCIS SEC Form ICA-RCIS for Certified Investment Solicitors with original signatures of the applicant (see attached revised form).
2. Two (2) pcs. current 2x2 colored ID picture with the signature and printed name of the applicant affixed on the dorsal side of each ID picture. The ID pictures must be attached on the application form by stapling the ID picture on the top edge for easy inspection of the signature and printed name on its dorsal side.
3. Copy of the solicitors previous license.
FOR CERTIFIED INVESTMENT SOLICITORS (new applicants):
1. Four (4) sets of duly accomplished SEC Form ICA-CIS SEC Form ICA-CIS for Certified Investment Solicitors with original signatures of the applicant (see attached revised form).
2. Photocopy of valid ID (with picture), certified by the companys Associated Person.
3. Certified true copy of valid work permit, if the applicant is a foreigner.
4. Two (2) pcs. current 2x2 colored ID picture taken within the last six (6) months. The dorsal side of each ID picture must contain the signature and printed name of the Certified Investment Solicitor. The ID pictures must be attached on the space provided on the application form by stapling the ID picture on the top edge for easy inspection of the signature and printed name on its dorsal side.
5. Certified true copy of evidence of educational attainment (official transcript of records or diploma).
6. Proof of passing the licensure examination or photocopy of the current or most recent license.
7. A CIS whose application for new registration was approved during the last quarter of the year (from October to December) shall be exempted from filing of the renewal form for the succeeding licensing year provided that the required renewal fee is paid at the time of the filing of the initial application.
8. The registration fee for CIS application filed within the last quarter of the year shall be of the current years registration fee for new registrant plus the subsequent years renewal fee. For new applicants for the fourth quarter of this year, they shall be charged the total fee of ONE THOUSAND FIFTY ONE (Php 1,051.00) PESOS or [(945 x ) + 815].
C. Filing Fees are as follows:
Mutual Fund Distributors (renewal) PhP 3,030.00
Certified Investment Solicitors (renewal) 815.00
Certified Investment Solicitors (new applicant) 1,420.00 1
Only cash and Managers/Cashiers check payments payable to Securities and Exchange Commission shall be accepted by the cashier.