Corporate

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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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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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 Guidelines: Umbrella Funds for Investment Companies

Corporate, Legal Updates / By

The Securities and Exchange Commission (“SEC”) has officially introduced the “Umbrella Fund” framework through Memorandum Circular No. 14, Series of 2026. This development modernizes the structural requirements for investment companies, thus allowing a single corporate entity to manage multiple Sub-funds. Under the new Circular, the SEC defines an Umbrella Fund as an open-end investment company that …

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SEC Unveils Tiered Minimum Public Ownership Rules to Boost IPO Market

Corporate, Compliance, Legal Updates / By

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

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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SEC INCREASES AUDIT THRESHOLD FROM PHP600,000.00 TO PHP3,000,000.00

Corporate, Finance, Legal Updates / By

In a move aimed at supporting micro, small, and medium enterprises (MSMEs) and aligning regulatory requirements with current economic realities, the Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 4, Series of 2026 dated January 20, 2026.  Under the new rules, stock and non-stock corporations exceeding Php3 Million in total assets or liabilities must submit audited financial …

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Can a Corporation Sit on a Condominium Board? The Supreme Court Finally Answers

Corporate, Legal Updates / By

The case of Rodriguez v. Pastorfide, et al. (G.R. No. 256648 24 February 2025) arose from a dispute over who may validly sit on the board of a condominium corporation when the unit owner is a corporation and not a natural person. Medical Plaza Makati Condominium Corporation (MPMCC), a non-stock condominium corporation, held its 20th …

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