Seminar on SEC disclosure rules set

MANILA, Philippines - The Center for Global Best Practices (CGBP) is holding a seminar titled “SEC Compliance with the Rules on Disclosures” on Jan. 22, 2010 at the Peninsula Manila, Makati City.

This is the first program to discuss both financial and non-financial aspects of disclosure reporting requirements when doing business in the Philippines.

The recent failures of many corporations has prompted the Securities and Exchange Commission (SEC) to implement and enforce stricter regulatory compliance with the rules on disclosures. Majority of corporations are unaware and unprepared for this “new era of stronger compliance.” Many businesses wake up to the surprise of costly fines ranging form thousands to millions of pesos in penalties, and even suspension or revocation of licenses to operate.

The rules on disclosures will be discussed by Justina Fernandez-Callangan, director for the corporation finance department of the SEC. It is her department that directly checks, monitors, and ensures that all SEC-registered corporation in the Philippines comply with the disclosure regulations of the SEC.

Ma. Gracia Casals-Diaz, General accountant of SEC, will discuss financial disclosures including such topics as “Periodic Financial Disclosures”, “Issues and Pervasive Findings on Financial Reports”, “Materiality test on Incompleteness or Mistatement in the Financial Statement” and “Recent SEC Memorandum Circulars Relevant to Annual Financial Disclosures.”

This program is MCLE-accredited by the Integrated Bar of the Philippines. Lawyers get MCLE credit units. CPAs get CPE credit units.

Interested participants are encouraged to avail of the early bird and group discounts. This is a limited-seats-only event and pre-registration is required. For more details, visit www.cgbp.org. You may also contact CGBP at (02) 842-7158/59 & (02) 556-8968/69 or email program leader Ivy Enriquez at [email protected].