The Securities and Exchange Commission (SEC) has issued new procedural rules aimed at speeding up the resolution of cases, streamlining administrative and adjudicative processes, and providing greater clarity and predictability for stakeholders.

The commission issued SEC Memorandum Circular (MC) No. 8, series of 2026, which provides for the 2026 Rules of Procedure of the Securities and Exchange Commission (2026 SEC ROP).

The 2026 SEC ROP broadly captures and updates the commission’s procedures relative to its powers under the Securities Regulation Code (SRC), the Revised Corporation Code of the Philippines (RCC), and the Financial Products and Services Consumer Protection Act (FCPA).

The new rules, which supersede the 2016 SEC ROP, simplify adjudicative and administrative procedures, reduce case aging, and institutionalize reforms that promote faster and more consistent case disposition.

“The 2026 SEC ROP reflect the commission’s continuing efforts to strengthen its adjudicative and administrative systems,” SEC Chairperson Francis Lim said.

He added that, “By clarifying processes and eliminating unnecessary procedural steps, the 2026 SEC ROP enhances regulatory certainty while reinforcing due process. With the new rules, the commission is better positioned to exercise its expanded powers efficiently and consistently as the country’s corporate and securities regulator and investor champion.”

The 2026 SEC ROP introduces measures to facilitate the prompt resolution of both adjudicative and administrative cases, including the submission of draft decisions by the parties.

To reduce delays, motions for reconsideration of decisions by operating departments and extension offices are no longer allowed. Instead, parties seeking the reversal of a department-level decision must file direct appeals with the commission en banc.

The filing of motions for extension of time and motions to declare default is also prohibited under the new rules, which mandate automatic decision-making when parties fail to answer within prescribed periods.

Before a final decision is made, the responsible office may set the case for a conference once an answer has been filed.

During this conference, the parties may explore the possibility of reaching an amicable settlement, agree on certain facts, fix hearing dates as necessary, and address other matters needed for the just and speedy disposition of the case.

The SEC may take administrative notice of information or documents within its records, such as general information sheets, annual financial statements, and articles of incorporation. This is expected to reduce costs and the evidentiary burden on concerned parties while promoting predictability in proceedings.

As part of its streamlining efforts, the 2026 SEC ROP designates email as the primary mode of service and filing. Initial pleadings may still be submitted through registered mail, accredited courier, or electronic mail, but subsequent pleadings and other submissions must be filed online unless otherwise allowed.

Meanwhile, SEC issuances shall be transmitted electronically to concerned parties using the registered email address provided in the corporation’s submission under MC 28, series of 2020.

The 2026 SEC ROP also consolidates enforcement mechanisms strengthened by recent laws, including the issuance of cease- and-desist orders (CDOs).

Under the RCC, the SEC may issue CDOs ex parte against fraudulent activities, valid for 20 days from receipt. The SRC likewise allows the issuance of CDOs with a 10-day validity period for investor fraud, while the FCPA permits the issuance of CDOs without prior hearing for fraudulent or unlawful acts by financial service providers.

Issuances by SEC departments or extension offices—including CDOs, suspension and revocation orders of secondary licenses, takeover orders, decisions or orders directing the calling of regular meetings and/or elections, and other decisions, resolutions, or final orders—are immediately executory unless a restraining order or injunctive relief, as appropriate, is issued by the commission en banc, the Court of Appeals (CA), or the Supreme Court (SC).