DESPITE an ongoing petition that seeks to annul some of the provisions in the newly amended Implementing Rules and Regulations (IRR) of the Securities Regulation Code, most of the bourse’s stockbrokers and trading participants have nonetheless complied with the new requirements, the Securities Exchange Commission (SEC) said on Thursday.

In a statement, the corporate regulator said that of the 133 broker dealers/trading participants of the Philippine Stock Exchange (PSE), 88 of them have already submitted the new requirements, while two broker dealers requested and were granted an extension of time to comply with the 2015 IRR of the SRC, which took effect on November 9, 2015.

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