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…
Read MorePhilippines 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…
Read MoreCMT 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…
Read MoreSEC 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…
Read MoreSEC 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…
Read MoreOne Person Corporations Now Allowed Under The Revised Corporation Code
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)…
Read MoreSEC issues Rules on Material Related Party Transactions for Publicly-Listed Companies
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…
Read MoreSEC Issues Guidelines on the Implementation of the ASEAN Capital Markets Forum Pass
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”)…
Read MoreMobile Number Portability Act Signed Into Law
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…
Read MoreSEC Requesting For Comments On Proposed Guidelines
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,…
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