The Philippine Securities and Exchange Commission cleared revised guidelines that make the Philippine Stock Exchange (PSE) the sole reviewing and pre-clearance body for Master Securities Lending Agreements (MSLAs) and accession agreements to multilateral MSLAs. The change removes SEC pre-clearance and certification before registration with the Bureau of Internal Revenue, cutting the MSLA processing timeline from seven to five working days and setting a one-working-day timeline for accession agreements. The PSE will manage the full administrative cycle, including receiving documents and fees, coordinating reviews, transmitting pre-cleared documents and assigning reference numbers for tax registration. The revised process also eliminates the SEC processing and certification fee of PHP 5,030. Endorsed and transmitted documents must still be provided to the SEC for regulatory oversight and post-audit purposes.
2026-06-06Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission centralizes securities lending clearances with the Philippine Stock Exchange
The Philippine Securities and Exchange Commission has made the Philippine Stock Exchange the sole reviewing and pre-clearance body for securities lending agreements. The change cuts MSLA processing from seven to five working days, sets a one-day timeline for accession agreements and removes the PHP 5,030 SEC fee. The SEC will retain oversight through document reporting and post-audits.