Regulatory Alerts2026-01-08
SEC Memorandum Circular No. 1, Series of 2026: Revisions to the Implementing Rules and Regulations of the REIT Act of 2009
The Securities and Exchange Commission of the Philippines issued this circular to revise the implementing rules and regulations of the Real Estate Investment Trust Act of 2009. The amendments expand the definition of infrastructure projects to include private initiatives, clarify income-generating real estate criteria, and introduce a definition for related party transactions. Key regulatory changes include extending the sponsor reinvestment period to two years, mandating dividend distribution cascades from special purpose vehicles, and prohibiting duplicate management fees at the vehicle level.
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