Regulatory Alerts2026-05-14
SEC MC No. 15, Series of 2026: Further Amendments to Rule 10.1.5 on Qualified Buyers
The Securities and Exchange Commission of the Philippines issued Memorandum Circular No. 15, Series of 2026, to amend Rule 10.1.5 of the 2015 Implementing Rules and Regulations of the Securities Regulation Code. The amendments align qualification standards for natural persons and juridical persons by expanding the definition of portfolio investments to include securities exempt from registration and government financial instruments. Additionally, the circular clarifies compliance evaluation methods for joint accounts based on specific ownership arrangements such as OR, AND, or AND/OR structures.
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