About CMIC

Incorporation of CMIC

On 26 May 2010, the Board of Directors of the Philippine Stock Exchange, Inc. (Exchange) passed Resolution No. 91, Series of 2010, approving the spin-off of its Market Regulation Division into a separate and independent corporation. Thereafter, in March 2011, the Capital Markets Integrity Corporation (CMIC), was officially incorporated.

On 3 February 2012, CMIC was granted by the Securities and Exchange Commission (Commission) its self-regulatory organization status. CMIC was finally operational on 12 March 2012. Since then, CMIC has become the primary regulator of the Trading Participants (TPs) of the Exchange.

CMIC's Role

CMIC was established for the primary purpose of reinforcing the confidence of the investing public in capital market institutions and promoting a more active and vibrant market participation. Accordingly, CMIC acts as the independent audit, surveillance and compliance arm of the Exchange.

As a self-regulatory organization, CMIC's primary mandate is to maintain the integrity of the market and minimize the risk of the investing public by ensuring that the TPs adhere to all pertinent rules, regulations, and code of conduct of CMIC and the Exchange, as well as all related legislative and regulatory requirements. Tasked with regulating and monitoring the activities of market participants, CMIC enforces rules, guidelines, and provisions of the Securities Regulation Code, or the SRC, and other securities laws, applicable to the operations and dealings of the TPs of - including, in particular cases, Issuers whose securities are listed in - the Exchange. Verily, under the CMIC Rules, which took effect in March 2012, CMIC, among other matters, enforces compliance by TPs - and, in the proper cases, by Issuers - with the securities laws.