MC No. 18 s. 2016 - Streamlining the Documentary Requirements for Financing and Lending Companies

Securities and Exchange Commission PHILIPPINES SEC Memorandum Circular No. Series of 2016 To FINANCING AND LENDING COMPANIES SUBJECT DATE STREAMLINING THE DOCUMENTARY REQUIREMENTS FOR FINANCING AND LENDING COMPANIES 8 November 2016 x X 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. 8 November 2 0 1 6 For the Commission: TERESITA J. HERBOSA Chairperson Published: Philippine Daily Inquirer, December 6, 2016 Manila Standard, December 6, 2016