The Philippine Securities and Exchange Commission has published an exposure draft of its 2026 Rules of Procedure and invited written comments, with the draft intended to supersede the SEC’s 2016 Rules of Procedure for administrative and adjudicative proceedings before the Commission, its operating departments, extension offices and special hearing panels. The draft sets out updated venue and jurisdictional allocation across SEC departments and extension offices, tightens pleading practice by limiting permitted pleadings and enumerating prohibited motions, and embeds electronic filing and service mechanics (including email transmittal requirements and timing rules for after-hours filings). It also proposes end-to-end process rules for summons and verified answers (including timelines and consequences of non-filing), case conferences (including via videoconference), subpoena and inspection orders, settlement offers (including categories of violations for which settlement offers will not be accepted and when acceptance becomes effective), cease and desist order processes under the Revised Corporation Code, Securities Regulation Code and Financial Products and Services Consumer Protection Act (including ex parte durations and timelines for motions to lift), appeal mechanics to the Commission En Banc (including appeal periods and non-appealable orders), execution provisions (including orders treated as immediately executory), and contempt sanctions. Comments on the exposure draft must be submitted via Google Form on or before 26 December 2025. The draft provides that the new rules would take effect 15 days after publication in a newspaper of general circulation and would generally apply to cases initiated after effectivity, with pending matters continuing under prior rules unless application of the 2026 rules is practicable.

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