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The Association of Securities Analysts of the
Philippines (ASAP) is the first and only organization of
securities analysts in the country. The organization seeks to
promote the interest of the general and investing public through
its primary goal of encouraging and assisting in the development
and advancement of securities analysts in the Philippines.
Formed by some of the most prominent figures in the securities
industry, ASAP was incorporated on 9 October 1996.
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On March 29,1949, the Bankers Association of the Philippines (BAP)
was organized with the distinct purpose and objectives of
furthering the interest of banks and enhancing their values to
trade, commerce, industry, agriculture and the public. Its
forerunners, the Association of Manila Banks formed to take up
foreign exchange operations, and the Manila Clearing House
organized to handle the clearing of checks, were both disbanded
with the establishment of the Central Bank. Created with broader
functions than its predecessors, the BAP works with some legal
body or any Chamber of Commerce for consideration, formulation,
amendment and alteration of any law or regulation relating to
banks and banking. On August 24, 1964, the Association was
formally incorporated into a corporate organization duly
registered with the Securities and Exchange Commission.
As a non-stock, non-profit organization with
the authorities, attributes and incidental powers conferred upon
it as a corporation duly organized under the laws of the
Philippines, the BAP provides a fundamental venue for member
banks to raise and discuss the issues, which affect commercial
banking operations in the country. But perhaps unique to the BAP
is its mandate to act as the unifying voice of the commercial
banking industry in an environment where business interest and
backgrounds – both among domestic as well as foreign banks in
particular – are very profoundly diverse.
Membership in the Association is limited to
banking institutions duly licensed and operating as a commercial
bank in the Philippines that subscribes to the purpose of the
organization and agrees to comply with and be bound by the
By-laws and other rules and regulations of the Association.
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The Philippine Association of Securities
Brokers and Dealers, Inc. (PASBDI) is the national
representative of the securities industry. Our mandate includes
all licensed stockbrokers and investment houses, as well as
independent securities brokers and dealers in the Philippines.
Our Membership includes more than 170 investment dealers who
play an essential role in the Philippine economy by raising
capital for governments and businesses and by helping individual
institutions invest with confidence in open and fair capital
markets.
The association does advocacy work on behalf
of the securities industry. To protect its stakeholders interest
on the dynamic market environment and to ensure that their
perspectives are taken into account when formulating national
policies and rules governing industry practices and standards.
From the unique viewpoint of regulatory
responsibility and experience, we are able to bring forward
constructive recommendations to governments on a wide range of
public policy issues that influence the broader public good.
The Board of Governors is composed of eleven
(11) members of which seven (7) are representatives of the PSE,
two (2) from the Investment House Association of the Philippines
(IHAP), and one (1) from the Association of Independent Brokers
and Dealers, Inc. (AIBD) leads the Association. And one (1)
Independent Director.
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On 18 April 1978, the Philippine Association
of Stock Transfer and Registry Agencies, Inc. (PASTRA) was
organized and registered with the SEC. PASTRA was formed for the
following purposes:
- Join together its member in the spirit of unity,
cooperation and comradeship;
- Promote efficiency and improvement in stock transfer
services to an ideal and professional level;
- Create a body through which the members can collectively
assist, petition and cooperate with regulatory agencies such
as the SEC and the PSE;
- Safeguard and promote the interests of its members, their
client-companies and the investing public; and
- Promote self-discipline among its members.
Members of PASTRA are persons, natural or
judicial, through its officers or agents, engaged primarily in
the stock transfer services and registry functions. A member
could either be a commercial bank, an accounting firm, or an
independent company operating solely as a transfer agent. At
present, it has 21 members.
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The Philippine Chamber of Commerce and
Industry (PCCI) is a non-stock, non-profit and non-government
organization of small, medium, and large enterprises, local
chambers, and industry associations representing various sectors
of business.
The roots of the chamber movement can be
traced as early as the 1890s with the formation of the Camara de
Comercio de Filipinas. This was followed with the creation of
the Chamber of Commerce of the Philippines (CCP) in 1903. The
rise of industries in the 1950s prompted several industry groups
to create an association which would be representative of their
interests and thus, the Philippine Chamber of Industry (PCI) was
formed. In July 1978, the Chamber of Commerce of the Philippines
(CCP) and the Philippine Chamber of Industry (PCI) merged to
become the Philippine Chamber of Commerce and Industry. That
same year, by virtue of Letter of Instruction No. 780, then
President Ferdinand E. Marcos recognized the PCCI as the sole
official representative and voice of the entire private business
community.
Today, the PCCI remains faithful to this task
as it was during the merger. True to its mandate as the single
voice of Philippine business, PCCI continues to promote the
interest of the business community through government
representation and advocacy work while providing business and
trade services. It is not only recognized as the representative
of the Philippine private sector locally but it is also viewed
as such internationally.
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On March 31, 1995, the Philippine Central
Depository, Inc. (PCD) was established. On November 1996, PCD
received its license to operate as a central securities
depository (CSD). Live operations commenced on January 10, 1997
with the initial lodgment of Jollibee Foods Corporation shares.
Thus the onset of scripless trading in the Philippines.
PCD joins over 90 other CSDs worldwide in
serving the investment community by increasing efficiencies in
securities market operations and lowering the risks of
investment.
Regulated by the Securities and Exchange
Commission (SEC), PCD is a private company owned by major
capital market players in the Philippines, namely: The
Philippine Stock Exchange, Inc. (31.72%), Bankers Association of
the Philippines (31.72%), Financial Executives Institute of the
Philippines (10%), Development Bank of the Philippines (10%),
Investment House Association of the Philippines (6.56%), Social
Security System (5%), and Citibank N.A. (5%).
PCD participants include PSE-trading
participants, custodian banks, government and corporate
financial institutions, insurance companies, commercial banks,
and other institutional investors.
PCD uses the book-entry system (BES) to
record ownership of shares of securities and to facilitate the
movement of shares among its participants.
Participants deposit eligible securities in
PCD through a process called lodgment, where legal title to the
securities is transferred and held in trust by PCD Nominee
Corporation (PCNC). As a wholly owned subsidiary of PCD, PCNC’s
sole purpose is to hold legal title to immobilized shares lodged
in the system.
Aside from lodgment, other services offered
by PCD include uplift (withdrawal of shares from the BES),
book-entry settlement for exchange and non-exchange trades,
electronic pledge, nominee service for distribution of
information and benefit entitlements to its participants, and
bureau services for PMBA (PCD-Managed BES Account of indirect
participants) and for the use of computer facilities of the PCD
as back up.
PCD also provides registry and clearing &
settlement infrastructure services to issuers of fixed income
securities such as bonds, commercial papers, negotiable
certificates of deposits, and other negotiable instruments.
With the creation of scripless trading
environment, participants and market players can now reap the
benefits of BES which include minimized paperwork, reduced
investment risks, increased investors confidence and enhanced
liquidity of the equities market. |
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SECURITIES
INVESTORS PROTECTION FUND, INC.
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Contact Person: |
Atty. Arlene T. Gonzales - Executive
Director |
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Business Address: |
Unit 908, Securities & Exchange Commission
Building
Edsa, Mandaluyong City
Philippines |
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Tel. No.: |
(632) 724-0355, (632) 724-0384 |
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Fax. No.: |
(632) 727-7178 |
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The Securities Investors Protection Fund,
Inc. (SIPF), a non-stock, nonprofit corporation, was organized
for the main purpose of creating, maintaining and administering
a fund for the interest and promotion of the securities
industry, and for aiding and protecting investors and securities
and members of the Fund.
It has a Board of Trustees composed of five
(5) representatives from the PSE and two (2) representatives
from the Public Sector, one of which shall be elected as
Chairman.
The SIPF was created to protect investors
against losses in the case of failure, insolvency, or frauds of
a member-broker or dealer; effect an orderly distribution of the
property & assests of the insolvent; and carry out measures
that would promote a vigorous & effective market for
securities.
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The American Chamber of Commerce of the
Philippines, Inc., (AmCham) is a private independent, and
non-profit association founded in Manila in 1902, incorporated
on 3 July 1920, and organized under the Philippine laws.
AmCham is affiliated with the Chamber of
Commerce of the United States (COCUSA) and the Asia Pacific
Council of American Chambers (APCAC). It also maintains close
liaison with other foreign chambers in Manila and Philippine
business groups. It networks in the US with the
Philippine-American Chamber of Commerce in New York, US-RP
Business Committee, Asia Society, and the US-ASEAN Business
Council.
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