Regulatory Alerts2025-07-24
SEC MC No. 09, Series of 2025: Streamlining the 45-Day Registration Statement Review Process and Providing a Discounted Registration Fee
The Securities and Exchange Commission issued Memorandum Circular No. 09, Series of 2025, to further streamline the 45-day review process for Registration Statements under the Markets and Securities Regulation Department. The Circular mandates a two-tranche payment structure for registration fees, requiring twenty percent upfront to initiate the review and eighty percent upon the issuance of a Payment Assessment Form before the 45th day. Additionally, it grants a thirty percent discount on assessed registration fees for all eligible applications from the Circular's effectivity until December 31, 2025.
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