News and Updates

The Revised Corporation Code (“RCC”) now allows the formation of a corporation by a sole stockholder. While the old Corporation Code (Batas Pambansa Blg. 68) requires at least five (5) natural persons to form a … Read more

The Securities and Exchange Commission (“SEC”) has issued Memorandum Circular No. 10, Series of 2019, promulgating the Rules on Material Related Party Transactions for Publicly-Listed Companies (the “Rules”) which became effective on 27 April 2019. … Read more

Pursuant to the Memorandum of Understanding dated 12 October 2018 between the regulators of the Philippines, Thailand, Malaysia and Singapore, on 26 February 2019, the Securities and Exchange Commission (“SEC”) issued SEC Memorandum Circular No. … Read more

Republic Act No. 11202, otherwise known as the “Mobile Number Portability Act” was signed into law by President Rodrigo Duterte on 08 February 2019. It took effect on 06 March 2019, or fifteen (15) days … Read more

Subsequent to the passage of Republic Act No. 11232, otherwise known as the Revised Corporation Code, the Securities and Exchange Commission (“SEC”), through separate Notices issued on 15 March 2019, has requested for comments on … Read more

On 8 January 2019, the Philippine Competition Commission (“PCC”) issued Clarificatory Note No. 19-001 (“CN No. 19-001”) to guide the public on the coverage of compulsory notification under Republic Act No. 10667, otherwise known as … Read more

Republic Act No. 11232, otherwise known as the “Revised Corporation Code of the Philippines” or “RCC”, was signed into law by President Rodrigo Duterte on 20 February 2019. The RCC took effect on 23 February … Read more

On 27 November 2018, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 17, Series of 2018 (“M.C. No. 17”) which provides for a revision of the General Information Sheet (“GIS”) to include beneficial … Read more

Attys. Elmar B. Galacio and Kristine Ann C. Venzuela, CPA, were recently certified as Fraud Examiners (CFE) by the Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and premier provider of anti-fraud … Read more

CMT’s Aida Araceli G. Roxas-Rivera and Paolo S. Tamase contributed the article Cryptocurrency Laws and Regulations in the Philippines in the May/June 2018 issue of the Asia Business Law Journal. The article explains that pending … Read more

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