Regulatory Alerts2019-04-26
Added · Updated
SEC Memorandum Circular No. 10 s.2019: Rules on Material Related Party Transactions for Publicly-Listed Companies
The Securities and Exchange Commission of the Philippines issued Memorandum Circular No. 10 s.2019 to mandate compliance with rules governing material related party transactions for all publicly-listed companies. The regulation defines materiality as transactions amounting to ten percent or more of a company's total assets and requires boards to adopt policies ensuring arm's length terms, independent fairness evaluations, and strict disclosure protocols. Non-compliance triggers escalating administrative penalties, including fines and potential license revocation, while abusive transactions may result in director disqualification.
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