The Investment House Association of the Philippines (IHAP) was established on July 19, 1974 as a non-stock, non-profit organization. Its primary objective is to promote a better understanding of the role and functions of investment houses and to enhance their contribution to the growth of Philippine business and the economy particularly through the development of the capital market.

IHAP was set up following the enactment of the Investment House Law under Presidential Decree (PD) No. 129 in 1973. The Law defines investment houses as enterprises engaged in the underwriting of securities of other corporations. Investment houses may be allowed to perform quasi-banking functions by the Monetary Board.

Investment houses are subject to regulation by the Securities and Exchange Commission. Those with quasi-banking license are further supervised by the Bangko Sentral ng Pilipinas.

Republic Act No. 8366, which took effect in 1997, amended certain sections of the Investment House Law on citizenship and capital requirement. The foreign ownership requirement of investment houses was increased to a maximum of sixty percent (60%) of the voting stock. The minimum paid-in capital for Investment houses was raised to P300 million.

Since the enactment of PD 129, the investment banking industry has continued to figure prominently in the development of the Philippine capital market. Specifically, investment houses have provided a wide range of financial and advisory services such as issue management and underwriting of public offering of debt and equity securities, loan syndication and financial packaging and advisory for corporate mergers, acquisitions and restructuring.