November 8, 2016
SEC MEMORANDUM CIRCULAR NO. 18-16
| TO | : | Financing and Lending Companies |
| SUBJECT | : | Streamlining the Documentary Requirements for Financing and Lending Companies |
WHEREAS, in accordance with the requirements of the Securities Regulation Code, the Amended Code of Corporate Governance and other laws, rules and regulations being implemented by this Commission, registered financing and lending companies are required to submit, among others: (1) SEC Form Q-EPS; (2) Certification of the Corporate Secretary on the attendance of Directors on Board Meetings; and (3) Corporate Governance Scorecard.
WHEREAS, it is the government's policy to make doing business in the Philippine easier.
IN VIEW OF THE FOREGOING, covered financing and lending companies are no longer required to submit (1) SEC Form Q-EPS; (2) Certification of the Corporate Secretary on the attendance of Directors to Board Meetings; and (3) Corporate Governance Scorecard.
This Circular shall take effect immediately.
Mandaluyong City, Philippines, November 8, 2016. SDHTEC
For the Commission:
(SGD.) TERESITA J. HERBOSA
Chairperson
