[ SEC Memorandum Circular No. 5, s. 2015, May 29, 2015 ]
AMENDMENT ON THE GUIDELINES AND PROCEDURES ON THE USE OF CORPORATE AND PARTNERSHIP NAMES
Date Filed: 05 June 2015
The Commission En Banc in its meeting on April 16, 2015, resolved to amend paragraph 11 (a) of SEC Memorandum Circular No. 21, Series of 2013 (Omnibus Guidelines and Procedures on the Use of Corporate and Partnership Names) dated December 4, 2013 to read as follows -
| 11. |
Unless otherwise authorized by the Commission, the words and phrases enumerated below can be used only by the entities mentioned: |
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| a) |
Investment(s) - by entities organized as investment house or investment company: |
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| b) |
Capital - by entities organized as investment house, investment company or holding company; |
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| c) |
Asset/Investment/Fund/Financial Management, or Asset/Investment/ Fund/Financial Adviser, or any similar words or phrases - by entities organized as investment company adviser or holders of investment management activities (IMA) license from the Bangko Sentral ng Pilipinas; |
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| d) |
National, Bureau, Commission, State, and other words, acronyms, abbreviations that have gained wide acceptance in the Philippines - by entities that perform governmental functions; |
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| e) |
Association and Organization or similar words which pertain to non- stock corporations - by entities primarily engaged in nonprofit activities: |
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| f) |
Stock Exchange/Futures Exchange/Derivatives Exchange, Stock Broker/Securities Broker/Derivatives Broker, Commodity/Financial Futures Merchant/Broker, Securities Clearing Agency/Stock Clearing Agency, Plans or any similar words or phrases - by entities organized as an exchange, broker dealer, commodity futures broker, clearing agency, or pre-need company under the Securities Regulation Code (R.A. 8799). |
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This amendment shall take effect immediately. May 29, 2015.
Mandaluyong City, Philippines.
Chairperson