Frequently Violated Rules
ARTICLE V- CODE OF CONDUCT AND PROFESSIONAL ETHICS FOR TRADERS AND SALESMEN
ARTICLE VII- CUSTOMER PROTECTION
ARTICLE VIII-CAPITALIZATION REQUIREMENTS OF THE TRADING PARTICIPANTS
ARTICLE IX-BOOKS AND RECORDS RULE
ARTICLE XI-TRADING IRREGULARITIES
Rule: Article V, Section 4(c)"(c) A trader or salesman should use and maintain only one (1) personal dealing account, and only with his firm, which should be registered under his real name. Additionally, he is prohibited from having, opening or using a solo or joint account with any person in any other Trading Participant for the purpose of transacting securities."
Trader has more than one account.
Sanction: Major Violation (Article XII, Section 4(b))
(b) Major Violations
(i) First violation - Fine of at least Php10,000.00 but not more than Php30,000.00;
(ii) Second violation - Fine of at least Php30,000.00 but not more than Php50,000.00;
(iii) Third violation - Fine of at least Php50,000.00 but not more than Php75,000.00;
(iv) Fourth and subsequent violations - Fine of at least Php75,000.00.
Classification of Violations:
Article XII, Section 3(b)(iii)
( (iii) Violation of the Code of Conduct and Professional Ethics for Traders and Salesmen;