The Philippine Securities and Exchange Commission has amended its qualified buyer rules to include securities exempt from registration under Section 9 of the Securities Regulation Code when calculating portfolio investment thresholds. The change aligns the treatment of individual and institutional buyers and allows government-issued and other exempt securities to count toward the applicable requirements. An individual must have annual gross income of at least PHP 10 million for the two years before registration or a portfolio of at least PHP 10 million in registered or exempt securities. The individual must also have specified securities trading experience or relevant professional responsibility. A juridical person must have gross assets of at least PHP 100 million or a portfolio of at least PHP 60 million in registered or exempt securities. For joint accounts and similar arrangements involving multiple beneficial owners or principals, financial capacity will be assessed according to the ownership arrangements under existing SEC rules. All parties must continue to satisfy the qualified buyer requirements, and an account that loses qualified buyer status cannot make subsequent purchases.
2026-05-14Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission includes exempt securities in qualified buyer portfolio thresholds
The Philippine Securities and Exchange Commission has amended qualified buyer rules so securities exempt from registration count toward portfolio thresholds. Individuals need qualifying income or a PHP 10 million portfolio, while juridical persons need PHP 100 million in gross assets or a PHP 60 million portfolio. All parties to joint arrangements must maintain qualified buyer status to make further purchases.