News & Updates

News and Updates

NTC Issues IRR for the Mobile Number Portability Act

The National Telecommunications Commission (“NTC”) issued Memorandum Circular No. 03-06-2019, or the “Rules and Regulations Implementing Republic Act. No. 11202, otherwise known as the “Mobile Number Portability Act” (“IRR”)”. The…

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Cruz Marcelo & Tenefrancia co-hosts Arbitration Seminar with King & Spalding

Cruz Marcelo & Tenefrancia (“CMT”), in partnership with King & Spalding (“K&S”), hosted a seminar on Arbitration on 26 July 2019 entitled “Protecting the Interests of Philippine Companies Through Arbitration”.…

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SEC Issues Revised Guidelines on Securities Deposit of Branch Offices

The Securities and Exchange Commission (“SEC”) issued on 31 July 2019 its Memorandum Circular No. 17, Series of 2019 (the “Revised Guidelines”) entitled “Revised Guidelines on Securities Deposit of Branch…

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DOF issues Regulations on Estate Tax Amnesty under the Tax Amnesty Act

The Department of Finance (“DOF”) has issued Revenue Regulations No. 06-2019 (“RR 06-2019”), implementing the provisions of Estate Tax Amnesty under Title II of Republic Act No. 11213, otherwise known…

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SEC Amends Memorandum Circular No. 17, Series of 2018, on the Revision of the General Information Sheet (“GIS”) to Include Beneficial Ownership Information

The Securities and Exchange Commission (“SEC”) issued on 22 July 2019 Memorandum Circular No. 15, Series of 2019 (“MC No. 15-19”), amending SEC Memorandum Circular No. 17, Series of 2018,…

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SEC issues Guidelines on the Number and Qualifications of Incorporators under the Revised Corporation Code

The Securities and Exchange Commission (“SEC”) issued on 30 July 2019 Memorandum Circular No. 16, Series of 2019 (“MC No. 16-19”), promulgating the Guidelines on the Number and Qualifications of…

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Philippines Accedes to Apostille Convention

On 14 May 2019, the Philippines’ accession to the Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (the “Apostille Convention”) took effect. The Apostille Convention was created…

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CMT Holds Screening of “Honor: The Legacy of Jose Abad Santos” for its 6th Anniversary

In celebration of its 6th anniversary, Cruz Marcelo & Tenefrancia (“CMT”) held a film screening of “Honor: The Legacy of Jose Abad Santos”, a 2018 documentary-film directed and written by…

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SEC issues Amended Guidelines and Procedures on the Use of Corporate and Partnership Names

On 21 June 2019, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 13, Series of 2019 (“MC No. 13-19”), promulgating the Amended Guidelines and Procedures on the Use…

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SEC Defers Implementation of SEC MC No. 17, Series of 2018, on Beneficial Ownership Disclosure, to 31 July 2019

The Securities and Exchange Commission (SEC), pursuant to SEC En Banc Resolution dated 27 June 2019, has issued a Notice deferring implementation of the new requirement of disclosure of beneficial…

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