Regulatory Alerts2026-01-22
SEC Memorandum Circular No. 6 Series of 2026 Expanding Coverage of Subscription Contract
The Securities and Exchange Commission of the Philippines issued Memorandum Circular No. 6 Series of 2026 to streamline the process for corporations increasing authorized capital stock through cash subscriptions. The circular removes the previous fifty million peso threshold, allowing most non-listed entities to submit a notarized Subscription Contract in lieu of a Special Audit Report. This exemption does not apply to listed companies, public companies, those offering securities to the public, or entities with secondary licenses, which must continue to provide a Special Audit Report.
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