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SEC Memorandum Circular No. 9, s. 2002 directs covered institutions to use the common forms approved by the Anti-Money Laundering Council (AMLC) for covered transaction reports and suspicious transaction reports. The Circular implements AMLC Resolution No. 086 dated May 29, 2002 and supersedes Annexes “A” and “B” of the SEC Anti-Money Laundering Model Operating Manual…

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This overview is an editorial summary only and is not part of the official text of the memorandum circular. SEC Memorandum Circular No. 10, s. 2002 adopts several Statements of Financial Accounting Standards into the rules and regulations of the Securities and Exchange Commission. The circular covers accounting standards on property, plant and equipment, related…

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CFD Memorandum Circular No. 12, s. 2002 requires all financing companies to submit standardized financial reporting forms in connection with SEC Memorandum Circular No. 2, Series of 2001. The circular requires financing companies to file Annual Audited Financial Statements using Forms FCFS1 and FCFS2 together with an Independent Auditor’s Report and Statement of Management’s Responsibility.…

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SEC Memorandum Circular No. 13, s. 2002 requires all financing companies to submit annual audited financial statements and quarterly reports using prescribed special forms. The circular requires financing companies to file four hard copies of their Annual Audited Financial Statements duly stamped “Received” by the Bureau of Internal Revenue within the applicable filing period. It…

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SEC Memorandum Circular No. 11, Series of 2002, concerns Lending Investors and forms part of the Securities and Exchange Commission’s regulatory issuances concerning financing and lending companies. The SEC officially lists the circular under its Financing and Lending Companies category. The official SEC record identifies the issuance as “MC No. 11 s.2002 – RE: Lending…

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SEC Memorandum Circular No. 14, s. 2002 prescribes the guidelines for accrediting institutional training providers (ITPs) that offer corporate governance training for directors of corporations covered by the Code of Corporate Governance. The circular establishes the Accreditation Committee, sets the minimum qualifications and accreditation requirements for training providers, prescribes the application process and processing fee,…

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SEC Memorandum Circular No. 15, s. 2002 creates the Accreditation Committee tasked with accrediting qualified institutional training providers on corporate governance. The committee is also responsible for monitoring the proper conduct of corporate governance training. The circular designates the chairman and members of the Accreditation Committee.

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SEC Memorandum Circular No. 16, s. 2002 provides guidelines on the nomination and election of independent directors. It applies to public companies and corporations subject to secondary licenses from the Securities and Exchange Commission. The circular defines who may qualify as an independent director, identifies disqualifications, prescribes the required number of independent directors, and sets…

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SEC Memorandum Circular No. 17, s. 2002 adopts the schedule of fees, fines, and penalties applicable to Government Securities Eligible Dealers (GSED). The circular provides registration and renewal fees for head offices and branch offices. It also lists fines and penalties for violations such as failure to indicate Value Received on trade transactions, cancellation of…

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SEC Memorandum Circular No. 1, Series of 2003 adopts several Statements of Financial Accounting Standards (SFAS/IAS) into the rules and regulations of the Securities and Exchange Commission. The adoption was approved through SEC Resolution No. 51, Series of 2003, dated February 13, 2003, and covers standards concerning foreign exchange differences, events after the balance sheet…

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