Omnibus Rules and Regulations for Investment Houses and Universal Banks Registered as Underwriters of Securities, Securities and Exchange Commission (Philippines)

Investment Houses should be stock corporations and at least 40% of the voting stock should be owned by Filipino citizens. A sworn application for registration shall be filed by organizers of the Investment House in accordance with the requirements and prescribed form found in the Omnibus Rules and Regulations. A License to Operate as an Investment House or a Certificate of Registration as an Underwriter of Securities (for universal banks) shall be issued by the Securities and Exchange Commission (SEC) if all requirements and conditions for issuance have been complied with and the SEC deems that it will promote public interest and economic growth. Underwriting agreements must also be approved by the SEC. Investment Houses and Underwriters of Securities are also required to formulate and submit their money laundering prevention programs.