{
  "id": 11721813,
  "title": "SEC seeks higher capital requirement for brokers",
  "url": "https://urgent.news/2026/10/03/sec-seeks-higher-capital-requirement-for-brokers",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-03T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/04/2560713/sec-seeks-higher-capital-requirement-brokers"
  },
  "original_language": "en",
  "account": "The Securities and Exchange Commission (SEC) in the Philippines plans to increase the minimum capital requirement for stockbrokers from P100 million to P120 million. This proposal, issued on September 30, aims to align the capital requirements with inflation-adjusted values, International Organization of Securities Commissions (IOSCO) principles, and the public's interest.\n\nThe new minimum unimpaired paid-up capital of P120 million will be mandatory for all broker-dealers, whether they are exchange trading participants or non-exchange broker-dealers, including those registering for the first time and those acquiring existing broker-dealer businesses. However, broker-dealers dealing solely with proprietary shares, without holding securities for clients, will only need a minimum of P2.5 million, or as the SEC determines.\n\nThe SEC justified this increase by stating that the real value of the existing P100 million capital requirement has declined over the years due to inflation. In 2004, P100 million would have been equivalent to approximately P230.54 million in 2026 prices, according to the Philippine Consumer Price Index.\n\nTo give broker-dealers time to meet the revised requirement, the SEC proposed a phased transition period. Those registered with the SEC as of the circular's effectivity, excluding those dealing purely in proprietary shares, would have until December 31, 2029, to attain and maintain at least P100 million in unimpaired paid-up capital. Subsequently, they must maintain at least P120 million from December 31, 2030. Non-compliance would result in sanctions under existing regulations.",
  "summary": "The Securities and Exchange Commission is looking to raise the minimum capital requirement for stockbrokers to P120 million from P100 million as part of its next wave of capital market reforms.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}