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SEC Moves Toward Paperless Capital Markets Through Mandatory OARS Filing

In alignment with the Philippine Development Plan (PDP) 2023–2028 and Republic Act No. 11032 (Ease of Doing Business and Efficient Government Service Delivery Act of 2018), the Securities and Exchange Commission (“SEC”) has issued Memorandum Circular No. 24, Series of 2026 (“MC No. 24”), which mandates the use of the Online Application for Registration Statements (“OARS”). OARS …

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Electronic Invoicing by December 31, 2026: Is Your Business Required to Comply?

The Bureau of Internal Revenue (“BIR”) continues to modernize Philippine tax administration through the implementation of electronic invoicing and electronic sales reporting requirements. With the issuance of Revenue Regulations (“RR”) No. 11-2025, as subsequently amended by RR No. 26-2025, certain taxpayers are now required to transition to electronic invoicing, with covered taxpayers given until December …

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NPC Clarifies Submission of Personal Data Breach Notifications Through DBNMS

The National Privacy Commission (NPC) has issued NPC Advisory No. 2026-02 dated 11 May 2026, providing clarifications to Personal Information Controllers (PICs) on requests concerning the notification of affected data subjects following a personal data breach. The Advisory specifically addresses requests for postponement, exemption, alternative means of notification, and extensions for required submissions through the …

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Online Lending Is Back: New SEC Rules for Financing and Lending Companies

Digital lending in the Philippines has grown exponentially in recent years, presenting unprecedented opportunities for financial inclusion while simultaneously introducing complex, systemic risks for financial consumers. Recognizing the need to promote responsible technological innovation while safeguarding market integrity, the Securities and Exchange Commission (SEC) has issued a landmark regulation for Financing Companies (FCs )and Lending …

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SEC Modernizes Corporate Filings Through Blockchain-Based VERITAS

The Securities and Exchange Commission (SEC) has taken a decisive step toward modernizing corporate compliance and administrative governance in the Philippines. With the issuance of SEC Memorandum Circular No. 23, Series of 2026, the Commission officially introduces VERITAS, or the Verification of Electronic Records and Information Trust and Authentication System, which is a decentralized, blockchain-based document signing and …

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DOLE Centralizes Processing of Alien Employment Permits Nationwide

Employers seeking Alien Employment Permits (AEPs) for foreign nationals must now file all applications directly with the Department of Labor and Employment (DOLE) Central Office following the implementation of Administrative Order No. 199, Series of 2026, and Department Order No. 248-B, Series of 2026. Effective 9 June 2026, DOLE Regional Offices no longer accept or …

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BIR Simplifies ONETT Compliance, Consolidated Guidelines on One-Time Transactions

The Bureau of Internal Revenue (BIR), through Revenue Memorandum Circular (RMC) No. 75-2026, issued a comprehensive Frequently Asked Questions (FAQ) guide governing One- Time Transactions (ONETT). The said Circular consolidates existing revenue regulations, memorandum circulars, and administrative issuances into a single reference designed to simplify the processing of One Time Transaction Computation Sheets (OCS) and issuance …

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Artificial Intelligence Meets the Judiciary: Supreme Court Releases AI Governance Framework

Artificial intelligence is rapidly transforming the practice of law, from legal research and document review to the preparation of pleadings and legal opinions. Recognizing both the opportunities and the risks presented by these technologies, the Supreme Court has adopted a governance framework to ensure that AI is used responsibly, ethically, and consistently with the administration …

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Further Reduction in SEC Corporate Data and IT-Related Service Fees

Obtaining corporate records from the Securities and Exchange Commission (SEC) has become even more affordable. Effective 1 June 2026, the SEC further reduced the fees charged for various corporate data requests and IT-related services through SEC Memorandum Circular No. 18, Series of 2026, entitled “Further Reduction of Fees and Charges for IT-Related Services under SEC …

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SEC Issues 2026 Rules of Procedure for Administrative and Adjudicative Proceedings 

The Securities and Exchange Commission (SEC) issued Memorandum Circular No. 8, Series of 2026, adopting the 2026 Rules of Procedure of the SEC. The new Rules replace the 2016 Rules of Procedure and are intended to streamline, modernize, and clarify the handling of administrative and adjudicative proceedings before the Commission. One important feature of the …

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