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SEC Memorandum Circular No. 12, series of 2008 amended Section 4 of SEC Memorandum Circular No. 5, series of 2008, which contains the Guidelines and Procedures on the Use of Corporate and Partnership Names. The SEC’s official By Year records list MC No. 12, s. 2008 under the 2008 issuances with the subject “Section 4…

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SEC Memorandum Circular No. 5, Series of 2009, dated June 8, 2009, established administrative penalties for publicly listed companies that failed to comply with the Securities and Exchange Commission’s directive to participate in the Corporate Governance Survey. The directive originated from SEC Memorandum Circular No. 8, Series of 2008, which required all publicly listed companies…

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SEC Memorandum Circular No. 5, Series of 2011 amended SEC Memorandum Circular No. 5, Series of 2008, which established guidelines and procedures governing the use of corporate and partnership names. The SEC’s official By Year archive identifies the 2011 issuance as “Amendment of SEC Memorandum Circular No. 5, series of 2008” and records its date…

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SEC Memorandum Circular No. 4, Series of 2005, dated May 20, 2005, concerns the certification requirement for compliance officers of financing companies. The Commission resolved on May 12, 2005, to limit the certification requirement to financing companies that have issued or are authorized to issue securities, including promissory notes, commercial papers, bonds, and preferred shares…

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SEC Memorandum Circular No. 5, Series of 2005, dated September 19, 2005, addresses corporate secretaries of Philippine corporations and establishes a reporting requirement for corporations that meet the criteria for a public company under the Securities Regulation Code. Under the circular, corporations with assets of at least P50 million and at least 200 stockholders, with…

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SEC Memorandum Circular No. 8, Series of 2005, was issued on December 27, 2005, following the Commission’s meeting on December 22, 2005. The circular adopts PAS 101 – Financial Reporting Standards for Non-Publicly Accountable Entities (NPAEs), as approved by the Accounting Standards Council (ASC). PAS 101 was adopted to provide temporary relief to qualified small…

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SEC Memorandum Circular No. 6, Series of 2005, dated September 22, 2005, establishes the Consolidated Scale of Fines for specified violations of the Securities Regulation Code (SRC), its Amended Implementing Rules and Regulations (IRR), and applicable rules under the Investment Company Act. The SEC’s official issuance listing confirms the title and date of the circular…

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SEC Memorandum Circular No. 7, Series of 2005, dated December 5, 2005, provides guidelines for the evaluation of foreign investments by mutual fund companies. The guidelines were promulgated pursuant to a Commission resolution dated November 17, 2005. The SEC’s official issuance records identify the circular under Mutual Fund Companies. The circular states that foreign investments…

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SEC Memorandum Circular No. 1, Series of 2006, dated January 11, 2006, provides guidelines for companies whose functional currency is other than the Philippine peso and which file financial statements expressed in that functional currency. The circular requires the determination of functional currency to be made in accordance with PAS 21, The Effects of Changes…

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SEC Memorandum Circular No. 2, Series of 2006 sets requirements for non-stock, non-profit corporations, including non-government organizations (NGOs), that intend to engage in microfinance activities in the Philippines. The circular requires these organizations to expressly identify their microfinance activities in their corporate documents. Their Articles of Incorporation must state that they will conduct microfinance operations…

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