CMOS Without Managing Directors And Compliance Officers

The attention of the Securities and Exchange Commission (“the Commission“) has been drawn to the recent trend by which CMOs carry on operations without Compliance Officers and Managing Directors, in violation of the SEC Rules and Regulations.

CMOs are hereby reminded that pursuant to Rule 14 of the SEC Rules and Regulations and the amendments to Part C of the Commission’s Rules on Regulations of Capital Market Operators, it is mandatory for CMOs to have Managing Directors and Compliance Officers at all times.

All CMOs are directed to ensure immediate compliancewith the foregoing or be liable to the penalties for non-compliance under the SEC Rules and Regulations




June 27, 2019