Regulatory Alerts2026-02-16
SEC MC No. 10 Series of 2026 Guidelines on the Compliances of One Person Corporations
The Securities and Exchange Commission issued Memorandum Circular No. 10, Series of 2026 to establish uniform monitoring guidelines and penalty scales for One Person Corporations. The regulation mandates specific timelines for appointing officers and posting surety bonds, while introducing a tiered fine structure for late or non-filing of financial statements based on retained earnings. Additionally, the circular adjusts the audit threshold to three million pesos and provides transitory provisions for existing OPCs to regularize their compliance status.
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