Compliance

SEC Modernizes Corporate Filings Through Blockchain-Based VERITAS

Announcements, Compliance, Corporate, Legal Updates / By Admin GVES

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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SEC Issues 2026 Rules of Procedure for Administrative and Adjudicative Proceedings

Corporate, Compliance / By Admin GVES

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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2026 AMENDMENTS ON THE BENEFICIAL OWNERSHIP RULE

Compliance / By Admin GVES

Under the Revised Corporation Code, all corporations are mandated to maintain accurate records and ensure full disclosure regarding their stockholders, members, and ownership structures. As the primary regulatory body, the Securities and Exchange Commission (“SEC”) continuously monitors these structures—with a specific focus on Ultimate Beneficial Owners (“UBO”) to prevent the misuse of corporate entities for illicit activities. Effective in …

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SEC Unveils Tiered Minimum Public Ownership Rules to Boost IPO Market

Corporate, Compliance, Legal Updates / By Admin GVES

The Securities and Exchange Commission (SEC) issued Memorandum Circular No. 11, Series of 2026 last February 24, 2026. This new directive introduces a revised, tiered Minimum Public Ownership (MPO) framework applicable to companies intending to list their shares on the exchange. According to SEC Chairperson Francisco Ed. Lim, the new structure recognizes that the liquidity, valuation dynamics, …

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Key Changes in the 2026 New SEC Rules of Procedure

Corporate, Compliance / By Admin GVES

On February 11, 2026, the Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular No. 8, series of 2026, adopting its new Rules of Procedure. These 2026 Rules, on the quantitative aspect, replace the 2016 framework and reduce the previous 27 rules (108 sections) into 17 rules (86 sections). More significantly, they institutionalize a digital-first …

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BSP Limits Over-the-Counter Cash Withdrawals Above ₱500,000.00

Corporate, Compliance, Finance / By Admin GVES

On 18 September 2025, the Bangko Sentral ng Pilipinas (BSP) issued Circular No. 1218-2025 (the “Circular”) amending certain provisions of the Manual of Regulations for Banks (MORB) and Manual of Regulations for Non-Bank Financial Institutions (MORNBFI). Specifically, Circular No. 1218-2025 provides restrictions on large value payouts, or transactions (such as withdrawals) of more than Five Hundred Thousand Pesos (Php500,000.00), and mandates the implementation …

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What is the hype about TRUSTMARK and what it means for your online business?

Announcements, Compliance, Corporate, Technology / By Admin GVES

Republic Act No. 11967, or the “Internet Transactions Act of 2023”, was enacted on 05 December 2023 to promote and strengthen e-commerce in the Philippines by building trust between online merchants and consumers. One of its key innovations is the creation of the E-Commerce Bureau, which was tasked to implement the E-Commerce Philippine Trustmark, a …

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By The Book: Supreme Court Rules That Mere Inclusion In The Corporate GIS Does Not Make One A Stockholder

Compliance, Corporate, Legal Updates / By Admin GVES

Corporations have been a staple in growing economies owing to various reasons including limited liability and greater access to capital as compared to other business vehicles. With such a significant role in business and the economy, corporations are vested with the need to maintain accurate and organized internal records. In the Philippines, every corporation is …

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BUSINESS ALERT: SEC MEMORANDUM CIRCULAR NO. 09 – STREAMLINING THE 45-DAY REVIEW PROCESS OF REGISTRATION STATEMENT APPLICATIONS UNDER THE MSRD

Uncategorized, Compliance, Corporate, Legal Updates / By Admin GVES

On 24 July 2025, to further boost its commitment to ease of doing business in the country, the Securities and Exchange Commission issued a SEC Memorandum Circular No. 09 series of 2025. The SEC MC No. 09 provides guidelines to further streamlining the 45-day registration statement review process under the Markets and Securities Regulation Department …

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Understanding the Capital Markets Efficiency Promotion Act (CMEPA): An Overview of Investment Tax Reforms and Vetoed Items

TAXATION, Compliance, Corporate, Finance, Legal Updates / By Admin GVES

CMEPA at a Glance Area Before CMEPA After CMEPA Stock Transaction Tax (STT) 0.6% on sale of listed shares 0.1% flat rate on sale of listed shares Capital Gains Tax 15% on unlisted domestic shares only; foreign shares taxed up to 35% 15% flat rate on both unlisted domestic and foreign shares Interest Income Subject …

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