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

Uncategorized / By

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 

Corporate, Compliance / By

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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SEC Eases Penalties on Late Submission of AFS and GIS Filings

Uncategorized / By

The Securities and Exchange Commission (“SEC”) has temporarily suspended the imposition of the “per month of delay penalty” for the late and non-filing of reportorial requirements, particularly the Annual Financial Statements (“AFS”) and General Information Sheet (“GIS”), pursuant to SEC Memorandum Circular No. 16, Series of 2026 (“MC 16-2026”). The suspension forms part of the …

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BSP adopts new framework requiring banks to strengthen cyber risk assessments

Uncategorized / By

The Bangko Sentral ng Pilipinas has formally overhauled the way it evaluates the technology and cybersecurity controls of banks and other financial institutions, replacing the traditional IT Rating System with a new Supervisory Assessment Framework (SAFr) under BSP Circular No. 1232. The move forms part of the regulator’s broader push to strengthen cyber resilience and operational risk …

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NPC Advisory No. 2026-01 on Data Scraping of Publicly Available Personal Data

data privacy / By

NPC Advisory No. 2026-01 on Data Scraping of Publicly Available Personal Data In response to the growing tension between artificial intelligence development and individual privacy rights, the National Privacy Commission (NPC) has moved to formalize the rules of the digital road. On 13 April 2026, the NPC issued Advisory No. 2026-01, establishing comprehensive guidelines for the …

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