The Philippine Securities and Exchange Commission has requested comments on an exposure draft memorandum circular that would set guidelines on the compliance requirements for One Person Corporations (OPCs). The draft covers the initial and subsequent appointment of officers, submission of financial statements, the scale of fines and penalties for late and or non-filing of financial statements, posting of a surety bond, compliance with SEC Memorandum Circular No. 28 series of 2020, by-laws, transitory provisions, effectivity, and related forms. Written comments, proposed revisions, and estimated costs to comply are to be submitted to the Company Registration and Monitoring Department via email on or before 11 July 2025 using the SEC’s template and prescribed email subject line.
Philippine Securities and Exchange Commission 2025-07-01
Philippine Securities and Exchange Commission seeks comments on draft compliance guidelines for One Person Corporations with submissions due 11 July 2025
The Philippine Securities and Exchange Commission has released an exposure draft memorandum circular outlining compliance guidelines for One Person Corporations (OPCs). The draft addresses officer appointments, financial statement submissions, fines for non-compliance, surety bonds, and adherence to SEC Memorandum Circular No. 28 series of 2020.