The Securities and Exchange Commission (“SEC”) through SEC Memorandum Circular (“MC”) No. 6, series of 2024 updated the fines and penalties for late filing or non-submission of audited financial statements (“AFS”), general information sheets (“GIS”), and...
On 02 October 2023, the Securities and Exchange Commission (“SEC”) Office of the General Counsel (“OGC”) issued an opinion regarding the following issues, concerning the repeal of Section 29 of the National Internal Revenue Code (“NIRC”) under Section 8 of Republic...
The Securities and Exchange Commission (“SEC”) issued Memorandum Circular (“MC”) No. 05, series of 2024, on 23 February 2024 providing the Philippine Sustainable Finance Taxonomy Guidelines (“SFTG”). The primary goal of the SFTG is to channel and amplify capital...
The Securities and Exchange Commission (“SEC”) issued SEC-OGC Opinion No. 24-02 (“Opinion”) on 19 January 2024, which clarified the rule in case of inconsistencies in the Articles of Incorporation (“AOI”) and By-laws, and the Master Deed and Declaration of...
The Securities and Exchange Commission (“SEC”) issued SEC-OGC Opinion No. 24-01 (“Opinion”) on 2 January 2024, which explained primarily the applicability of the Foreign Investment Negative List (“FINL”) to educational institutions. The Opinion stemmed from an inquiry...
