SEC CERTIFICATION EXAMINATION MODULES AND TOPICS COVERED

Under the Revised SEC Certification Programs

PHASE 1
MODULE TOPIC SOURCE
MODULE 1:  Formation of Corporations Corporation Code of the Philippines
FUNDAMENTALS  Classification of Shares link:
OF SECURITIES  Rights of Stockholders https://www.sec.gov.ph/wp-
 Dividend Declarations content/uploads/2019/11/2019Le
 Definition of Securities gislation_CORPORATION-CODE-OF-
 Fixing of Records/Payment Dates THE-PHILIPPINES.pdf
 Qualified Buyers/Retail Buyers
 Market Professionals and Institutions Securities Regulation Code link:
https://www.sec.gov.ph/wp-
content/uploads/2019/11/2019Le
gislation_RA-8799-Securities-
Regulation-Code-2000.pdf

and its 2015 Implementing Rules

and Regulation (IRR) 2015:
https://www.sec.gov.ph/wp-
content/uploads/2019/11/2015-
SRC-Rules-Published-in-Phil-Star-
Manila-Bulletin-October-25-
2015.pdf

can be searched via google

keywords: RA8799 of the
Philippines
MODULE 2:  Business Cycle
ECONOMIC  Securities Analysis
PRINCIPLES and  Portfolio Management
MARKET  Financial Analysis
THEORIES  Basic Economics
 Economic Indicators/Factors
 Different Business Cycle
 Demand and Supply
 Understanding Types of Financial Markets
 International Markets and Global Investing
 Analysis of Market Data
 Factors Affecting Portfolio Management
 Diversification
 Understanding Basic Financial Statements
 Financial Ratios
MODULE 3:  Regulation of Securities (registration, exempt Securities Regulation Code link:
SECURITIES transactions, exempt securities, Mandatory Tender https://www.sec.gov.ph/wp-
REGULATION Offer (MTO), reportorial and other requirements) content/uploads/2019/11/2019Le
 Regulation of Market Professionals (licensing, gislation_RA-8799-Securities-
monitoring, supervision, ethical standards) Regulation-Code-2000.pdf
 Regulation of Market Institutions (Exchanges, Over
The Counter (OTC), Alternative Trading System (ATS), and its 2015 Implementing Rules
Clearing Agency, Securities Depository, Transfer and Regulation (IRR) 2015:
Agents) https://www.sec.gov.ph/wp-
 Enforcement of SRC Violations, Sanctions content/uploads/2019/11/2015-
(administrative, civil, criminal), Cease and Desist SRC-Rules-Published-in-Phil-Star-
Order, Settlement offers Manila-Bulletin-October-25-
2015.pdf
 SEC CERTIFICATION EXAMINATION MODULES AND TOPICS COVERED
Under the Revised SEC Certification Programs

PHASE 1
MODULE TOPIC SOURCE
 Exemptive relief, confidential treatment,
international/regional cooperation (International
Organization of Securities Commissions principles,
etc.)
 International Organization of Securities Commissions
Objectives and Principles of Securities Regulation
 SRC Rule 8, 9, 10, 24, 26, 28, 29, 30, 32, 34, 48, 52, 53,
54, 58, 59
 OTC Rules-SEC Memo Circular No. 14, s. 2006
MODULE 4:  Definition Revised Code of Corporate
CORPORATE  Organisation for Economic Co-operation and Governance link:
GOVERNANCE Development (OECD)/G20 Principles of CG https://www.sec.gov.ph/wp-
 Rights of Minority Shareholders (Best Practices) content/uploads/2019/11/Revise
 Board/Management Functions d-Code-CG.pdf
 Responsibilities of the Board as a Body/Individual
Directors and
 Board Committees 2016_memo_circular_no.19.pdf
 Independent Directors/Qualifications/ (sec.gov.ph)
Disqualifications/Qualities/Attendance to Board https://www.sec.gov.ph/wp-
Meetings content/uploads/2019/11/2016_
 Corporate Officers and their Responsibilities memo_circular_no.19.pdf
 Section 38 of the Securities Regulation Code
can be searched via google
 Coverage of Financing Companies by the Revised
keywords: SEC Memorandum
Code of Corporate Governance (MC No. 5, s. 2010)
circular no. 6 series of 2009
 Term Limits for Independent Directors (MC No. 9, s.
2011 par. 1)
SEC Memorandum Circulars link:
 Amendment to the Revised Code of Corporate
https://www.sec.gov.ph/sec-
Governance (MC No. 9, s. 2014)
issuances/memorandum-circulars/
 Template for Publicly-Listed Companies’ websites
(MC no. 11 s.2014)
 Amendment to Rule 38.2.7 of the 2015 Implementing
Rules and Regulation of the Securities Regulation
Code (SRC) (MC No. 7, s. 2018)
 (1) Shareholders’ Approval on Any Change/s in the
Company’s External Auditor; (2) Audit Committee
Composed Entirely of Board Members (MC No. 8, s.
2018)
MODULE 5:  Fundamentals of RM
RISK  RM Under SRC Rules
MANAGEMENT  Definition of Risk
 Method of Identifying Risks
 Types of Risks
 Risk Management
 SRC Rule 30.2-Suitability Rule and Best Execution
Rule
MODULE 6:  Definition, Coverage Anti-Money Laundering Act
ANTI-MONEY  Stages of ML link:
LAUNDERING  Predicate Crimes https://www.sec.gov.ph/laws-
 Know-Your-Customer (KYC), Covered Transaction rules-decisions-and-
Report (CTR)/Suspicious Transaction Report (STR), resolutions/anti-money-
Record Keeping, Training laundering-act/
 SEC CERTIFICATION EXAMINATION MODULES AND TOPICS COVERED
Under the Revised SEC Certification Programs

PHASE 1
MODULE TOPIC SOURCE
 International Cooperation/FATF/FIUs http://www.amlc.gov.ph/laws/mo
 Bank Inquiry/Forfeiture/Asset Freeze ney-laundering/2015-10-16-02-
 Penalties 50-56/republic-act-9160
 Composition and Functions of Anti-Money Laundering
Council (AMLC)
 Jurisdiction over AMLC cases

Note: Please refer to“The Corporation Code of the Philippines” and

2015 Implementing Rules and Regulations of the Securities Regulation Code (RA 8799).