• The Philippines’ Securities and Exchange Commission is seeking comments on a proposal to eliminate a minimum commission that stockbrokers are prescribed to charge.
• Draft SEC memorandum to “allow brokers to set their own commission schedule without the constraint of a prescribed regulatory minimum commission”.
• Existing rule sets a minimum commission of 20 pesos and maximum of 1% of value of each transaction
• Proposed rule change is in line with efforts to boost trading volume in the stock market and foster competition, says SEC