(NAR) VOL. 29 NO. 1/ JANUARY - MARCH 18
1. One (1) year transitory period or until February 28, 2019 is given to the existing licensed salesmen to take and pass the SEC Certification Examination, otherwise their license shall be revoked;This Memorandum Circular shall take effect immediately.
2. New salesmen who had not yet taken and passed the SEC Certification Examination will be allowed to register under provisional license which will automatically be cancelled at the end of the one (1) year period mentioned in number 1 above if they fail to take and pass the exam within said period; and
3. New applicants for registration as broker/issuer of proprietary/non-proprietary shares shall be allowed to register as such subject to compliance with requirements under items 1 and 2 above.