Latest news with #MemorandumCircularNo.
GMA Network
21-07-2025
- Climate
- GMA Network
Classes, gov't work suspended in NCR, nearby provinces —Palace
Classes in all levels and government work are suspended in Metro Manila and nearby provinces starting 1 p.m. of Monday due to bad weather. This was indicated in the Memorandum Circular No. 88 signed by Executive Secretary Lucas Bersamin —VAL, GMA Integrate News
GMA Network
17-07-2025
- Business
- GMA Network
SEC gives registration, filing discounts to MSMEs
The Securities and Exchange Commission (SEC) on Thursday announced it is providing discounted rates on certain transactions to micro, small, and medium enterprises (MSMEs). In a statement, the SEC said it issued Memorandum Circular No. 8, series of 2025. 'MSMEs are the backbone of our business sector, accounting for more than 99% of all businesses in the country and generating millions of jobs for our fellow Filipinos,' said SEC Chairperson Francis Lim. 'This policy represents our strong resolve to help bring down the barriers to entry of small businesses to ensure they can grow, thrive, and continuously contribute to economic growth,' he added. Under the latest memorandum circular, the SEC grants a 20% discount on registration fees to MSMEs that seek to register as a corporation. MSMEs seeking to increase their capital stock through an amendment of their articles of incorporation will be given a 25% discount on filing fees. The discounted rates will be effective until the end of the year, or on December 31, 2025. The agency is also giving a 50% discount for the registration of securities for MSMEs who will tap the capital market as it aims to further reduce friction costs for firms going public. The discount will be effective until June 30, 2026. The SEC said that its latest memorandum circular adopts the classification of MSMEs based on asset size provided under Republic Act 9501, or the Magna Carta for Micro, Small and Medium Enterprises. Under the law, micro-sized businesses have assets of up to P3 million, up to P15 million for small businesses, and up to P100 million for medium-sized enterprises. For an increase in capital stock and securities registration filings, the president or treasurer of the applicant company shall issue a signed certification of qualification stating that the company's total assets, exclusive of the land on which the particular business entity's office, plant, and equipment are situated, it said. Earlier this month, the SEC reduced the rates for corporate data requests by 50% under Memorandum Circular No. 6, series of 2025. It has also committed to strict timelines for the processing of applications for permits, licenses, registrations, certificates, clearances, and other authorizations, in a bid to eliminate delays and remove backlogs, through the issuance of Memorandum Circular No. 7, series of 2025. —VBL, GMA Integrated News
GMA Network
08-07-2025
- Automotive
- GMA Network
LTFRB warns PUV operators vs overloading
The Land Transportation Franchising and Regulatory Board reminded public utility vehicle operators to adhere to their respective allowable passenger capacity or face fines and penalties. In a statement, the LTFRB cited the directive of Transportation Secretary Vivencio B. Dizon on 'anti-sardinas' or the overloading of passengers in manner like canned sardines. "The LTFRB under Chairperson Atty. Teofilo E. Guadiz III, CESO V, reminds all PUV operators to strictly adhere to and comply with the allowable passenger capacity of their PUVs pursuant to the existing policies of the Board and the DOTr,' the agency said. Violators will be fined and penalized, the LTFRB said. The passenger capacity regulations for different PUVs are the following: UV Express pursuant to Memorandum Circular No. 20025-023 1. AUVs (i.e. Mitsubishi Adventure, Isuzu Crosswind/Highlander): 9 passengers including driver 2. Regular Vans (Toyota Hi-Ace, Nissan Urvan Shuttle, Hyundai Grace): 10 passengers including driver 3. Extended Vans (Nissan Urvan, Toyota Hi-Ace Commuter): 12 passengers including the driver, or may be more but shall not exceed the allowable maximum capacity based on the manufacturer's specification; Public Utility Jeepneys pursuant to Memorandum Circular No. 2021-002 and Philippine National Standards 2126:2017 1. Traditional Jeepneys – 12 to 32 passengers but shall not exceed the allowable maximum capacity based on the manufacturer's specification; 2. Modern Jeepneys – 12 to 32 passengers but shall not exceed the allowable maximum capacity based on the manufacturer's specification. If standing passengers are permitted, the number must not exceed five (5) persons per square meter of the available standing space pursuant to Item 3.1 of DOTr Department Order No. 2023-022; and Public Utility Bus Fifty passengers or more but shall not exceed the allowable maximum capacity based on the manufacturer's specification. If standing passengers are permitted, the number must not exceed five persons per square meter of the available standing space pursuant to Item 3.1 of DOTr Department Order No. 2023-022. Standing passengers on long haul trips are strictly not allowed. —AOL, GMA Integrated News
GMA Network
26-06-2025
- Business
- GMA Network
SEC: Fees for corporate docs slashed by 50% effective July 1, 2025
The Securities and Exchange Commission (SEC) on Thursday announced the reduction in the prescribed fees and charges for requesting corporate documents by 50%, effective July 1, 2025. In a statement, the SEC said it issued, last June 24, Memorandum Circular No. 6 series of 2025, which provided for the 'Reduction of Fees and Charges for IT-Related Services under SEC Memorandum Circular No. 10, Series of 2023.' The corporate regulator said the reduction in rates for corporate data requested 'are in line with the commitment of the SEC to allow for greater access to corporate data through a fair and sustainable pricing mechanism, while avoiding undue financial burden to the corporate sector and the general public.' The SEC said its latest memorandum circular outlines the prescribed rates for requesting physical and digital copies of documents filed by registered entities. In particular, under the new rates, physical and authenticated copies of company filings, such as articles of incorporation (AOI) and by-laws; AOI or amended AOI; by-laws or amended by-laws; general information sheet; increase in capital stock; resolution; secretary's certificate; board resolution; registration data sheet; and deed of assignment, could be requested for P1,000 each —half of the previous price of P2,000. For plain copies of the same documents, the fee would cost P750 each, from the previous rate of P1,500. Meanwhile, authenticated copies of 'other documents' would be purchased for P50 per page, down from P100 per page previously. Moreover, 'other documents' would be priced at P25 per page, down from P50 per page under the old rates. For digital copies of the same types of documents accessible through the Electronic SEC Education, Analysis, and Research Computing Hub (eSEARCH), standard rates have been set at P625 for each authenticated copy and P375 for each plain copy. These represent 50% of the previous prices at P1,250 and P750, respectively, according to the SEC. Meanwhile, the standard rates for the use of the SEC API Marketplace—which allows the direct sending and ingestion of corporate data from one application to another—shall remain in effect. The SEC said it currently offers two packages for SEC API Services, priced at P10,000 for 100 API calls and P50,000 for 1,000 API calls. —VAL, GMA Integrated News
