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Makati Stock Exchange, Inc. vs. Securities & Exchange Commission, Et Al.121 Phil. 1412

MAKATI STOCK EXCHANGE, INC., petitioner, vs. SECURITIES AND EXCHANGE COMMISSION and MANILA STOCK EXCHANGE, respondents.

G.R. No. L-23004 | 1965-06-30

D E C I S I O N 


BENGZON, J.: 

This is a review of the resolution of the Securities and Exchange Commission which would deny the Makati Stock Exchange, Inc., permission to operate a stock exchange unless it agreed not to list for trading on its board, securities already listed in the Manila Stock Exchange. 

Objecting to the requirement, Makati Stock Exchange, Inc., contends that the Commission has no power to impose it and that, anyway, it is illegal, discriminatory and unjust. 

Under the law, no stock exchange may do business in the Philippines unless it is previously registered with the Commission by filing a statement...