Rules on Investment in Financial Derivatives

April 21, 2020

SEC MEMORANDUM CIRCULAR NO. 15-20

TO :All Investment Companies
Fund Managers
Other Entities Dealing with Investment Companies
SUBJECT:Rules on Investment in Financial Derivatives

WHEREAS, Section 35 (a) of Republic Act No. 2629, or the Investment Company Act (ICA), and Section 72 of Republic Act No. 8799, or the Securities Regulation Code (SRC), vest upon the Securities and Exchange Commission the authority to make, issue, amend, and rescind rules and regulations and orders which are necessary or appropriate to the exercise of the powers conferred upon it in the ICA and the SRC;

WHEREAS, Rules 6.5, 6.8 (b), 6.8 (d) (iii) and 6.8 (h) of the Implementing Rules and Regulations of the Investment Company Act (ICA-IRR) provide for the basic rules on financial derivatives;

WHEREAS, the Commission seeks to enhance the Rules and provide specific guidelines for financial derivatives to be followed by investment companies, fund managers and other persons or entities involved therein;

WHEREAS, the Commission seeks to align the Rules with global standards and practices in order to develop the Philippine...

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
digestph@gmail.com
Please read our FAQ before contacting us.