Securities and Exchange

Commission

Key Applicable Laws

 • Act Providing for the Revised Corporation
Code of the Philippines, aimed at improving

01
ease of doing business in the country, affording
more protection to corporations and
stockholders and promoting good corporate
governance.

Revised Corporation Code

Republic Act No. 11232

Notable Amendments under the Code

 One Person Corporation

 Perpetual Existence

 Minimum Capital Stock

 Incorporators, Directors, Trustees, and Officers

 Remote Communication and in Absentia Voting

 • An act that aims to regulate the
issuance and trading of equity

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securities and debt securities in the
Philippines.

The Securities Regulation Code

Republic Act No. 8799
Requirements to Register Securities

• 3 copies of SEC Form 12-1

• Duly signed and notarized statement of management responsibilities on the
audited financial statements
• Consolidated/Audited/Interim Financial Statements (if applicable)
• Additional components of the Audited Financial Statements
• Material Contracts
• Exhibits
• Payment Assessment Form (PAF)
 • An act that aims to make it easier for
businesses to start operating in the

03
country. The most important measure
that the ease of doing business law
introduces is the automation of the
business registration process. 

Ease of Doing Business Act Republic Act No. 11032

Key Features Introduced by the EODB Law

 Faster Processing of Business Permits and Licenses

 Standard Turnaround Time for Government Transactions

 Automated Business Registration Process

 Anti-Corruption Policy

 Accountability of Heads of Offices and Agencies

 • The AMLA investigates money
laundering and other financial crimes to

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protect financial institutions and deter
criminals from making the Philippines a
money laundering site for criminal
proceeds.

Anti- Money Laundering Act Republic Act No. 9160

 Covered Persons

• banks, non-banks, quasi-banks, trust entities, pawnshops, money changers, remittance

and transfer companies and other similar entities regulated by the Bangko Sentral ng
Pilipinas (BSP)

• insurance companies, pre-need companies and all other persons supervised or regulated
by the Insurance Commission

• securities dealers, brokers, salesmen, investment houses and other similar persons
managing securities regulated by the Securities and Exchange Commission (SEC)

• jewelry dealers in precious metals

• real estate developer, real estate broker and offshore gaming operator
 Covered Transactions

• a transaction in cash or other equivalent monetary instrument involving a total amount in

excess of Five hundred thousand pesos (P500,000.00) within one (1) banking day for
covered persons

• A transaction with or involving jewelry dealers, dealers in precious metals and dealers in
precious stones in cash or other equivalent monetary instrument exceeding One Million
pesos (Php1,000,000.00).

• A casino cash transaction exceeding Five Million Pesos (PHP5,000,000.00) or its

equivalent in other currency.

• A cash transaction with or involving real estate developers or brokers exceeding Seven
Million Five Hundred Thousand Pesos (P7,500,000.00) or its equivalent in any other
currency.
 • Under this act, aspiring small
entrepreneurs who do not have access
to financial products and services can

05 team up with accredited microfinance

nongovernment organizations (NGOs)
that will provide them with convenient,
flexible and low-interest credit

Microfinance Nongovernment
Organizations Act Republic Act No. 10693
 • An act that created the Credit Information
Corporation, the primary purpose of

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which is to receive and consolidate
basic credit data, and to provide access
to reliable, standardized information on
credit history and financial condition of
borrowers

Credit Information System Act

Republic Act No. 9510
 • The purpose of this act is to attract,
promote and welcome productive
investments from foreign individuals,

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partnerships, corporations, and
governments in activities which
significantly contribute to national
industrialization and socioeconomic
development

Foreign Investment Act Republic Act No. 7042

 • An act that seeks to penalize persons and
corporations which circumvent these foreign
equity restrictions. The offender can be: (i) any
citizen of the Philippines, or (ii) any citizen of any

08 other specific country. The proscribed offense

includes the act of using the “name” or
“citizenship” of a Filipino citizen to be used for
the purpose of evading the foreign ownership
limitations.

Anti- Dummy Law Commonwealth Act No.

108
REFERENCES

https://www.sec.gov.ph/wp-content/
uploads/2020/08/2020Media_The-S
EC-Its-Mandate-and-Functions.pdf