Year 2000 ("Y2K") Compliance

October 6, 1998

SEC MEMORANDUM CIRCULAR NO. 09-98

TO:Investment House
Financing Companies
Pre-Need Companies
Securities Brokers And Dealers
Investment Companies
Philippine Stock Exchange
Philippine Central Depository, Inc.
Stock Transfer Agents
Fund Managers
Lending Investors
Issuers of Registered/Listed Securities
(including Commercial Papers Issuers)
SUBJECT:Year 2000 ("Y2K") Compliance

WHEREAS, year 2000 is fast approaching. Thus, the foreseen Millennium Bug otherwise known as the Year 2000 Problem needs immediate attention to ensure continuity of business transactions and economic activities in all sectors of the society. Public interest is at stake, hence, it is the moral responsibility of every corporate citizen of the Philippines and foreign corporations doing business in the country to keep the economy going; cdtai

WHEREAS, many existing computer programs use only two digits to identify a year in the date field. These programs were designed and developed without considering the impact of the upcoming change in the century. If not corrected, many computer applications could fail or create erroneous results by or in the Year...

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