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.