The Philippine Securities and Exchange Commission has published draft guidelines that would require every director and key officer of publicly listed companies, public companies and registered issuers to attend corporate governance training at least once each calendar year. Initial training would cover mandatory areas including board responsibilities, financial oversight, sustainability reporting, minority shareholder protection, related-party transactions, director liabilities and prohibited corporate activities. All external and in-house programs would require SEC accreditation. The draft sets accreditation, reporting and recordkeeping requirements for institutional training providers, resource speakers and companies conducting in-house programs. Institutional providers would receive five-year accreditation subject to continuing compliance and a minimum evaluation rating of four out of five, with an initial fee of PHP 50,000. Providers and companies would also face pre- and post-training reporting requirements, five-year document retention and penalties of up to PHP 50,000 for specified violations, while a fourth instance of the same violation could result in suspension or revocation of accreditation. Comments on the exposure draft are due by Feb. 28, 2026.
2026-02-05Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission launches consultation on new corporate governance training and accreditation guidelines
The Philippine Securities and Exchange Commission is consulting on guidelines requiring annual corporate governance training for directors and key officers of covered companies and SEC accreditation of all training programs. The draft introduces accreditation, reporting and five-year recordkeeping requirements, with penalties of up to PHP 50,000 for specified violations. Comments are due by Feb. 28, 2026.