SEC simplifies access to securities regulations

MANILA, Philippines — The Securities and Exchange Commission (SEC) is simplifying access to the country’s securities regulations by coming out with a comprehensive digital reference.

The commission has published the Annotated Consolidated Reference of the 2015 implementing rules and regulations (IRR) of the Securities Regulation Code (SRC), a digital document which integrates all regulatory updates from 2000 to 2026 into a centralized and publicly accessible reference.

“Through the Annotated 2015 SRC IRR, we seek to provide our stakeholders – especially legal practitioners and the investing public – with a complete and historically accurate resource that promotes regulatory clarity and ease of compliance,” SEC chairperson Francis Lim said.

He said the continuing evolution of the capital market requires regulations that are not only responsive and robust, but also accessible and easy to navigate.

“While the 2015 SRC IRR has been progressively enhanced over time, we acknowledge that the current volume of updates necessitates a centralized, digital-ready reference,” he said.

The SRC, which was enacted in 2000, empowers the SEC to regulate and promote the capital market, protect investors against fraudulent and manipulative practices and ensure transparency in securities disclosures.

Since the rollout of the 2015 SRC IRR, the commission said it has released over 60 memorandum circulars and other issuances to address evolving market conditions and align local policies with international best practices, resulting in various clarifications and amendments to the existing regulatory framework.

The SEC said the Annotated 2015 SRC IRR will be updated regularly with new and amendatory rules to ensure its accuracy and reliability.