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CMIC Conducts 2019 Trading Participants' Seminar

by Aerielle Rose B. Mendiola

The Capital Markets Integrity Corporation (CMIC) held its annual Trading Participants' Seminar last April 5, 2019 at The City Club, Alphaland Makati Place, Makati City.

With a record of 174 attendees and 85% of the trading participants present, the one-day seminar covered discussions on pertinent provisions of the CMIC Rules and the Securities Regulation Code and its Implementing Rules and Regulations, as well as the Securities Borrowing and Lending Rules, Anti-Money Laundering Act and the Revised Corporation Code.

The morning session commenced with a discourse on common audit, surveillance and investigation findings of the core departments of CMIC for the years 2018 to 2019. These findings were briefly discussed by Atty. Jose Martin General, AVP and Head of the Investigation and Enforcement Department of CMIC.

Subsequently, Atty. Teresita Herbosa, Former Chairperson of the Securities and Exchange Commission (SEC), thoroughly presented the salient points of the Revised Corporation Code of the Philippines.

The last topic for the morning session focused on the Guidelines on Philippine Depository and Trust Corporation (PDTC) Lending Agency Service for the Philippine Stock Exchange's Securities and Lending Program. Ms. Ma. Theresa Ravalo, the COO of PDTC, comprehensively explained the provisions thereof.

The afternoon session started with Atty. Allan Julius Azcueta, Legal Officer III from the Anti-Money Laundering Secretariat, who methodically discussed the 2018 Implementing Rules and Regulations of the Anti-Money Laundering Act, together with the results of the 3rd Round of Mutual Evaluations

Thereafter, representatives from SEC, i.e., Atty. Jose Aquino, Director of Enforcement and Investor Protection Department; Atty. Alfonso Lanuza, Jr., Officer-in-Charge of the Anti-Money Laundering Division; and Atty. Sheara Lupangco-Tamayo, Officer-in-Charge of Special Operation Division, talked about the new requirements relative to the General Information Sheet (GIS).

Before the end of the program, CMIC launched its first "CMIC Integrity Seal Awards", which will be awarded to select trading participants. Similarly, the "Best Associated Person" will be awarded to certain associated persons. The criteria for both categories, covering the period from January 2019 to December 2019 will be posted at the CMIC website. CMIC intends to announce the results and to present the awards during the next Trading Participants' Seminar.