Regulatory Alerts2024-02-22
SEC Memorandum Circular No. 4, Series of 2024: Guidelines for Simplified Securities Registration for PowerGen and Distribution Utilities
The Securities and Exchange Commission issued this circular to establish simplified registration guidelines for power generation companies and distribution utilities mandated to offer at least 15% of their shares to the public. The document outlines specific pre-filing clearances, financial disclosure requirements, and a structured 45-day review process administered by the Markets and Securities Regulation Department. It further details procedures for continuous offerings, underwriting, post-registration reporting, and penalties for non-compliance with the Securities Regulation Code.
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