Admin GVES

SEC Tightens Accreditation Guidelines for Auditing Firms and External Auditors

Corporate, Legal Updates / By

The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 26, Series of 2026, amending the accreditation framework for auditing firms and external auditors of SEC-regulated entities and other covered corporations. The amendments strengthen accreditation requirements, expand coverage to certain corporations with government contracts, impose stricter audit-quality standards, and clarify the grounds for conditional …

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DIGITAL TRANSFORMATION IN CORPORATE COMPLIANCE: IMPLEMENTING PAPERLESS FILING UNDER SEC MEMORANDUM CIRCULAR NO. 21 SERIES OF 2026

Corporate, Legal Updates / By

DIGITAL TRANSFORMATION IN CORPORATE COMPLIANCE: IMPLEMENTING PAPERLESS FILING UNDER SEC MEMORANDUM CIRCULAR NO. 21 SERIES OF 2026 Digital transformation in corporate compliance has reached a significant milestone in the Philippines as regulatory processes transition from traditional paper-based submissions to automated, digital-first frameworks. Recognizing the need to enhance administrative efficiency, promote environmental sustainability, and further the …

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SEC Moves Toward Paperless Capital Markets Through Mandatory OARS Filing

Corporate, Compliance / By

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?

Uncategorized / By

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

Uncategorized / By

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

Compliance, Corporate, Finance, Legal Updates / By

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

Announcements, Compliance, Corporate, Legal Updates / By

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

Legal Updates / By

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

Finance, Legal Updates / By

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

Uncategorized / By

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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