Regulatory Alerts2021-04-22
MC No. 06 s. 2021 — Amendments on the SRC Rules 9 and 10
The Securities and Exchange Commission approved amendments to Securities Regulation Code Rules 9 and 10 to refine exemptions for specific securities and transactions. Rule 9 updates exempt securities by clarifying conditions for government-guaranteed instruments, bank-issued evidence of indebtedness, and multilateral financial entity offerings while allowing the Commission to mandate periodic disclosures. Rule 10 expands the list of qualified buyers eligible for exempt transactions to include various institutional investors, funds, and foreign entities meeting specific financial sophistication criteria.
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