Latest news with #MemorandumCircular
GMA Network
3 days ago
- Politics
- GMA Network
Marcos tells agencies to speed up aid to flood victims
President Ferdinand Marcos said he has instructed concerned government agencies to ensure the safety of the people amid the floods in Metro Manila and several other provinces, and to deliver assistance to flood victims quickly. "I gave the instructions for them to work and coordinate to ensure that all our kababayans are out of harm's way, and that the relief goods are ready to be delivered," Marcos said in Filipino in a video message posted by the Presidential Communications Office. He was referring to the Office of Civil Defense, and the Departments of Transportation, Health, Science and Technology, Social Welfare and Development, Energy, Public Works and Highways and Interior and Local Government. Marcos is currently in the United States for a meeting with US President Donald Trump. He said medical teams should also be present during the distribution of relief goods. He added there should also be an unhampered supply of water and electricity. Marcos appleaed to the public to heed the instructions of authorities as rains continue to batter Metro Manila and nearby provinces. "The government is here to provide the services needed by our people," he said. Earlier, Malacanang said it approved the recommendation of the Department of Interior and Local Government to suspend classes and government work in Metro Manila, and the provinces of Zambales, Bataan, Pampanga, Bulacan, Cavite, Batangas, Rizal, Pangasinan, Tarlac, and Occidental Mindoro. In Memorandum Circular No. 89, Executive Secretary Lucas Bersamin said the class and work suspension in the said areas was also "Upon the recommendation of the National Disaster Risk Reduction and Management Council relative to the continuous heavy rainfall." "However, agencies responsible for basic, vital and health services, preparedness and response duties must continue to remain operational to ensure continuity of essential government functions despite the declaration of work suspension," Bersamin added. The rains are mostly brought by the Southwest Monsoon or habagat, as even Severe Tropical Storm Crising, which is already out of the Philippine Area of Responsibility, also dampened the country this week.—LDF, GMA Intregrated 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
GMA Network
24-06-2025
- Politics
- GMA Network
BARMM officials ordered to submit courtesy resignations
Bangsamoro Autonomous Region in Muslim Mindanao Chief Minister Abdulraof Macacua ordered all senior BARMM officials to submit their courtesy resignation no later than June 30, 2025. PHOTO: BARMM Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Chief Minister Abdulraof Macacua ordered all ministers, deputy ministers, and heads of offices and agencies in the Bangsamoro Region to submit their courtesy resignation no later than June 30, 2025. In a memorandum dated June 23, Macacua said the decision is due to the 'serious and grave complaints' he received and to 'improve efficiency and effectiveness of service delivery in this crucial phase of the end of the transition period in the Bangsamoro Autonomous Region'. 'To ensure continuity of government services, all concerned shall continue to report for work and perform only their routinary functions not involving discretion until any action on the courtesy resignations are taken,' the memorandum said. 'In case a Minister, Deputy Minister, Head of Office or Agency covered by this Memorandum Circular fails or refuses for any reason to tender his or her unqualified courtesy resignations on or before the deadline, the refusing or failing official shall be deemed resigned,' it added. BARMM polls The Commission on Elections (Comelec) confirmed the issuance of the memorandum. However, poll chief George Erwin Garcia said this will have no significant effect on the preparations for the Bangsamoro elections in October. 'Tinanong din po natin sa mga taga-BARMM kung totoo ito at kinumpirma na legit po. Importante po sa amin na malaman dahil sa proper coordination natin sa mga tamang opisyal bilang paghahanda sa nalalapit na BARMM parliamentary election,' Garcia told GMA News Online. (We asked the BARMM if this is true and they confirmed that it is. This is important for our proper coordination with the proper officials as part of preparations for the upcoming BARMM parliamentary elections.) 'Wala naman po ganung epekto dahil ito po ay internal sa kanila,' he said. (This has no significant impact on the poll preparations because this is internal to them.) Comelec officials, including Garcia, are set to meet with stakeholders in Cotabato City on Wednesday, June 25, to discuss preparations for the Bangsamoro polls. This includes a walkthrough of the facilities that will be used for the parliamentary elections that includes voting precincts, canvassing centers and media centers. 'Ang kampo ng 6ID sa Cotabato City ang aming planong operation center. Dyan natin mismo ilalagay ang canvassing center ng region kung san mapproklama ang mahahalal…Gusto namin alamin kung saan pwede mahiram ang mga pasilidad sa kampo at gusto natin malaman ang peace and order situation,' Garcia added. (We're eyeing to put up our operations center in the camp of the Army's 6th Infantry Division in Cotabato City. That is where we will place the regional canvassing center and where the winners will be proclaimed. We want to know what facilities we can borrow for the polls and to know the current peace and security situation.) The first-ever Bangsamoro Parliamentary elections is set on October 13, 2025. —RF, GMA Integrated News
GMA Network
17-06-2025
- Business
- GMA Network
SEC to boost efforts vs money laundering as PH exits Europe's ‘high-risk' list
Last week, European Union's executive body announced the removal of the Philippines from its list of high-risk countries that the bloc monitors for money laundering and terrorism financing. The Securities and Exchange Commission (SEC) on Tuesday said it will strengthen its efforts to combat money laundering and terrorism financing in the country's corporate sector on the heels of the Philippines' exit from the European Commission's (EC) list of high-risk jurisdictions for financial crimes. Last week, European Union's executive body announced the removal of the Philippines from its list of high-risk countries that the bloc monitors for money laundering and terrorism financing. 'The SEC welcomes the Philippines' exit from the EC list of high-risk jurisdictions. This milestone emphasizes the country's strong commitment to ensuring the integrity of the financial and corporate sectors, making the country a more attractive hub for investors,' SEC Chairperson Francis Lim said in a statement. 'As the overseer of the corporate sector and the capital market, the SEC will continue adopting best practices in AML/CFT (anti-money laundering and counter-terrorism financing) regulation, in line with global standards, to ensure that the corporate vehicle will not be used for illicit funding,' Lim added. The country's removal from the EC's monitoring came after the Financial Action Task Force (FATF), in February, delisted the Philippines from its list of jurisdictions under increased monitoring since its inclusion in June 2021. The FATF cited reforms that addressed strategic deficiencies in its AML/CFT framework. In particular, the SEC addressed concerns on beneficial ownership information disclosure and registration of non-profit organizations (NPOs) requiring companies to declare such information in their general information sheets. The corporate regulator also prevented the issuance and sale of bearer shares and bearer share warrants in 2021 to boost transparency and prevent the use of corporations for illegal activities. Early this month, the SEC launched the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR), an online platform that caters to the submission and updating of beneficial ownership information. The HARBOR would enable the SEC to provide faster and more reliable beneficial ownership data to businesses, regulators and government agencies. To improve transparency among NPOs, the SEC also conducted outreach and knowledge-sharing activities to encourage them to register with the Commission to minimize the risk of being used for illicit financing activities. These efforts resulted in the registration of nearly 8,000 NPOs since 2021, according to the agency. The SEC, likewise, strengthened its enforcement of AML/CFT policies over financial institutions under its jurisdiction, including brokers, dealers, lending and financing corporations, and other securities dealers. The corporate regulator issued Memorandum Circular Nos. 4 and 5, Series of 2025, providing for the SEC Rules on Crypto-Asset Service Providers and SEC Guidelines on the Operations of Crypto-Asset Service Providers, respectively. The rules seek to ensure investor protection while supporting innovative financial products. 'Necessary systems and measures are already in place. The SEC will remain proactive in ensuring that these are strictly implemented and complied with, to prevent the country's relisting and to foster a sound business environment where companies can thrive,' Lim said. — BAP, GMA Integrated News
Gulf News
21-04-2025
- Business
- Gulf News
Philippines: $17 fee per passenger at airports set
Manila: The Civil Aviation Authority of the Philippines (CAAP) has announced a forthcoming increase in passenger service charges (PSC) to $17 for international passengers across all airports under its jurisdiction. The adjustment, outlined in Memorandum Circular (MC) No. 019-2025 dated April 4, 2025, comes ahead of the summer travel season, when passenger traffic typically surges. The circular, signed by Raul L. Del Rosario, the agency's Director General, contains the revised schedule of all airports and concession fees and charges for all airports under CAAP. $17 per passenger According to the circular, the PSC for international flights will rise from from the existing ₱700 to ₱900 ($17) per passenger, a 28% increase. 12 international airports The Philippines has 12 international airports, including major hubs like Ninoy Aquino International Airport (NAIA) in Manila, Clark in Pampanga and Mactan-Cebu International Airport in Cebu. By comparison, passengers flying out of Singapore's Changi Airport currently pay a $46.40 passenger service and security fee (PSSF), which will further increase by $3 annually starting April 1, 2027. According to CAAP, the PSC is typically included in the ticket price when passengers book their flights, and airlines are responsible for remitting the payment to the airport. However, due to the new policy, the additional charge must now be paid directly at the airport, if the lower fees were charged during the time the ticket was purchased. Passengers are advised to prepare the correct and sufficient amount to cover the additional terminal fees. New fees for domestic flights For domestic flights, the new charges will vary depending on the classification of the airport of departure: ₱350 – International airports ₱300 – Principal Class 1 airports ₱200 – Principal Class 2 airports ₱100 – Community airports Currently, the domestic PSC is uniformly set at ₱200. The memorandum explicitly states that passengers who refuse or fail to pay the required PSC will not be permitted to board their flights. OFWs exempted However, exemptions are granted to specific categories, including children under the age of two, transit passengers, overseas Filipino workers (OFWs) departing the country, and passengers who were denied entry into the Philippines. The circular indicates that the new rates will be enforced 15 days after the memorandum's publication in two newspapers of general circulation, in accordance with regulatory procedures. Although CAAP has not specified the exact date when the revised charges will take effect, local media reported the new fees would kick in from today, Monday (April 21). This development comes amid rising airport operational costs and increasing demand for air travel.
