Regulatory Alerts2022-08-26
SEC Rules on Qualified and Eligible PERA Investment Products
The Securities and Exchange Commission issued Memorandum Circular No. 07, Series of 2022, to prescribe the qualification and eligibility criteria for Personal Equity and Retirement Account (PERA) investment products under its purview. The rules define eligible securities, including mutual funds, REITs, and corporate bonds, by establishing specific standards for non-speculative nature, marketability, and regular income payment history. Additionally, the circular outlines procedures for maintaining eligibility, conditions for losing status, and reporting requirements for issuers of these qualified investment products.
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