Philippine Securities and Exchange Commission consults on 2026 Rules of Procedure to consolidate case rules and shift filings and service to electronic-first processes

The Philippine Securities and Exchange Commission has issued for public comment draft 2026 Rules of Procedure to amend its 2016 Rules of Procedure, aiming to streamline administrative and adjudicative proceedings and speed up case resolution. The proposal would consolidate the framework to 17 rules across 86 sections from 27 rules and 108 sections, while incorporating updates under the Revised Corporation Code and the Financial Products and Services Consumer Protection Act. Key changes include an “electronic first” approach that institutionalises email as the primary mode for filing and service, including use of official corporate email addresses designated under SEC Memorandum Circular No. 28, Series of 2020, and expanded alternative service such as publication on the SEC website. Case management proposals include generally prohibiting motions for reconsideration at the Operating Department level (allowing them only against Commission En Banc judgments or resolutions), consolidating rules on case conferences and subpoenas with specific sanctions for non-compliance, and enabling administrative notice of SEC records already in the Commission’s custody. The draft also expands and clarifies enforcement powers, including integrating cease and desist order authority under the Securities Regulation Code, the Revised Corporation Code and the consumer protection law, specifying ex parte cease and desist order time limits under the Securities Regulation Code (10 days) and the Revised Corporation Code (20 days), and defining certain orders as immediately executory, including cease and desist orders and secondary licence suspension or revocation. Comments on the draft rules may be submitted via the SEC’s Google Form until December 26.