This article talks about the guidelines for the compliances of One Person Corporations or OPCs pursuant to SEC Memorandum Circular No. 10, series of 2026.
This article talks about the SEC Memorandum Circular No. 3, Series of 2025 and the mandatory use of SEC Zuper Easy Registration Online (ZERO) platform for the registration of corporations using the Electronic Simplified Processing of Application for Registration of Company (eSPARC) and One-day Submission and E-registration of Companies (OneSEC) portals.
This talks about the SEC Memorandum Circular No. 7, Series of 2025 and the timelines for processing of applications and requests filed before the Securities & Exchange Commission.
What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers? If a corporation, without justifiable cause, refuses or obstructs the SEC’s exercise of its visitorial powers, the SEC may impose severe sanctions (SEC. 178, Revised Corporation Code of the Philippines). Specifically, the SEC may revoke the corporation’s certificate
What are the two specific powers and authorities granted to the SEC regarding litigation and enforcement? The SEC is granted the power and authority to issue cease and desist orders ex parte to prevent imminent fraud or injury to the public (SEC. 179, Revised Corporation Code of the Philippines). This allows for immediate regulatory action
When may the SEC suspend or revoke the certificate of incorporation of a corporation under its general powers? The SEC is granted the general power to suspend or revoke the certificate of incorporation of any entity under its jurisdiction (SEC. 179, Revised Corporation Code of the Philippines). This drastic action can only be taken after
What is the purpose of the fund created by the SEC’s collection of fees, fines, and other charges? The SEC is authorized to collect, retain, and use fees, fines, and other charges pursuant to the Code for the purpose of a more effective implementation of this Code (SEC. 175, Revised Corporation Code of the Philippines).
What is the scope of the SEC’s visitorial powers over corporations? The SEC shall exercise visitorial powers over all corporations, which are crucial for regulatory oversight and enforcement (SEC. 178, Revised Corporation Code of the Philippines). These powers include the examination and inspection of records, ensuring transparency and compliance with legal mandates. The visitorial authority
What is the scope of the SEC’s visitorial powers over corporations? Read More »
What restrictions apply to the SEC when publishing findings or information concerning a violation? The SEC is authorized to investigate and publish its findings, orders, opinions, advisories, or information concerning any alleged violation of the Code or its regulations (SEC. 154, Revised Corporation Code of the Philippines). However, this publication power is explicitly subject to
What is the purpose and maximum validity period for a Cease and Desist Order ex parte issued by the SEC? The SEC may issue a cease and desist order ex parte to enjoin an act or practice which is fraudulent or can be reasonably expected to cause significant, imminent, and irreparable danger or injury to
