Category Archives: Securities & FinTech

Proposed Rules on Initial Coin Offerings (ICO) in the Philippines

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[The Securities and Exchange Commission (SEC) issued a notice, requesting for comments on the updated Proposed Rules on Initial Coin Offering (ICO). According to the SEC, ICOs will help raise capital and resources for small and local businesses start-ups or ventures, and provide alternative investment opportunity for the investing public. While the deadline for submission of comments has passed, we are reproducing the full text of the Proposed Rules on Initial Coin Offering for future reference.] Continue reading →

Concept of Beneficial Owner under the Securities Regulation Code

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Beneficial owner or beneficial ownership means any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares voting power (which includes the power to vote or direct the voting of such security) and/or investment returns or power (which includes the power to dispose of, or direct the disposition of such security); provided, that a person shall be deemed to have an indirect beneficial ownership interest in any security which is: 

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Title, Objectives, Definition of Terms (Rules 1-3, REIT Rules): Full Text

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[Table of Contents and Introduction / Salient Points.; Rules 1-3; Rule 4; Rule 5; Rule 6; Rule 7; Rule 8; Rule 9; Rules 10-11]

Securities and Exchange Commission 

SEC MEMORANDUM CIRCULAR NO. 1

SUBJECT: REVISED IMPLEMENTING RULES AND REGULATIONS OF REPUBLIC ACT NO. 9856, OTHERWISE KNOWN AS THE REAL ESTATE INVESTMENT TRUST (REIT) ACT OF 2009 

Pursuant to Section 22 of Republic Act No. 9856, An Act Providing the Legal Framework for Real Estate Investment Trust, the following Implementing Rules and Regulations are hereby promulgated. 

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