The Securities and Exchange Commission announced that it has moved to a fully online and paperless company registration process so that applicants will no longer have to submit hard copies of physically signed or notarized documents. The Commission on April 4 issued SEC Memorandum Circular No. 3,...
The Securities and Exchange Commission’s (SEC) move to relax the rule on the single business group (SBG) investment limit will benefit conglomerates with multiple listed subsidiaries, such as the SM and Ayala groups, as well as the planned initial public offering (IPO) of GCash. Under the...
In response to requests from fund managers, the Securities and Exchange Commission (SEC) has relaxed the single business group (SBG) investment limit for equity funds, balanced funds, and multi-asset funds that have actual exposure to equity securities. The Commission on March 28 issued SEC...
The Securities and Exchange Commission (SEC) has signed a data sharing agreement (DSA) on beneficial ownership information with the Procurement Service of the Department of Budget and Management (PS-DBM) as part of efforts to combat illicit financial flows in the procurement process. The SEC...
Senator Raffy Tulfo called out the Securities and Exchange Commission (SEC) for the several lapses he observed in terms of regulating financial and lending companies' operation of their respective online lending applications (OLAs). Sen. Raffy Tulfo presides over the Subcommittee on Banks,...
Large companies' heavy reliance on bank loans, particularly from major local banks, could amplify vulnerabilities within the Philippine financial sector, according to the 2024 Financial Stability Report (FSR). "Corporates’ heavy reliance on bank funding could amplify credit risks to the financial...
The Energy Regulatory Commission (ERC) and the Securities and Exchange Commission (SEC) launched a program designed to encourage power sector players to go public and comply with the Electric Power Industry Reform Act of 2001 (EPIRA). On Thursday, March 27, the ERC and SEC jointly launched SEC...
The Securities and Exchange Commission (SEC) is not abandoning the 20-percent minimum public ownership of rule for initial public offerings (IPOs), although it has approved the plan of the Philippine Stock Exchange (PSE) to relax its implementation of this requirement to make it easier for large...
The Securities and Exchange Commission (SEC) has approved a proposal by the Philippine Stock Exchange (PSE) to exempt giant initial public offerings (IPOs), such as the upcoming IPO of GCash owner Mynt, from the 20-percent minimum public float requirement. “We have been able to get approval from...
The Securities and Exchange Commission (SEC) has set the schedule of filing of corporations’ annual financial statements (AFS) and general information sheets (GIS) for this year. The Commission on March 3 issued SEC Memorandum Circular No. 1, Series of 2025, which provides for the 2025 Filing of...
The Securities and Exchange Commission (SEC) is taking a more active role in enhancing the quality of financial reporting by promoting high-quality audits to protect the investors and public interest. This commitment was made by the SEC when it represented the Philippines recently in the...
The Court of Appeals (CA) said the Securities and Exchange Commission was right to issue a cease and desist order (CDO) against Superbreakthrough Enterprises Corp., doing business under the name 1UP Time, for unauthorized solicitation of investments from the public. In a decision promulgated on...
