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For the past few years, the Securities and Exchange Commission, with the support of the Bankers Association of the Philippines (BAP), the Money Market Association of the Philippines (MART) and the Investment House Association of the Philippines (IHAP), has pushed for the upgrade to international best practices of the sales and distribution of securities in the Philippines.  In line with this advocacy, the SEC has conducted qualifying examinations as a pre-requisite for the licensing of salesmen.  Since then, more than 1,000 salesmen have been given licenses by the SEC and we expect the number to grow in the foreseeable future.

The recent financial market turmoil has shown the imperative for the greater understanding of financial products that are sold in the market place.  In response to these events and taking cognizance of our local evolving local financial market through the persistent and tireless effort of the BAP with the assistance of MART and IHAP, a formal association of fixed income broker salesmen referred to as the National Association of Securities Broker Salesmen, Inc also known as NASBI obtained its confirmation of registration from the Securities and Exchange Commission last November 13, 2009.

NASBI can now take on the lead of promoting the interest of our broker salesmen, in particular, and the investing public, in general.  Unlike institutions-based membership such as the BAP, MART or IHAP amongst others, NASBI’s membership is on an individual basis.  Membership is targeted to those who have passed the examination and have been licensed as securities salesmen by the SEC.  It is envisioned that MART will remain the prime mover and anchor of the dealers market, and NASBI will be the enabler, guide and advocate for the broker and salesmen.

More About NASBI.  A non-stock, non-profit association of individual broker salesmen organized by the Bankers Association of the Philippines with the assistance from other organizations which included the Money Market Association of the Philippines (MART) and the Investment House Association of the Philippines (IHAP).  The Securities and Exchange Commission approved the registration of NASBI on November 13, 2009.

 

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