SEC revises rules on disclosure

Manila, Philippines -  The Center for Global Best Practices (www.cgbp.org) is holding an MCLE and CPE-accredited seminar titled “SEC Compliance with the Rules on Disclosures” on August 29, 2012 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 from thousands to millions of pesos in penalties, and even suspension or revocation of licenses to operate.

To help businesses prevent such costly mistakes, this special program will discuss and thoroughly cover the SEC financial and non-financial rules on compliance and their interpretation, updates, and best practices. It is a disclosure guide for board directors, corporate secretaries, management, compliance officers, lawyers and other stakeholders.

Participants will also learn how disclosures are reported at registration and beyond, how to use SEC forms and templates, and know the solutions, remedies and exemptive reliefs in case your corporation is penalized for non-disclosure violations.

Learn the rules on disclosures from SEC authorities. Justina Fernandez-Callangan is the director for the Corporation Finance Department of the SEC. It is her department that directly checks, monitors, and ensures that all SEC-registered corporations in the Philippines comply with the disclosure regulations of the SEC. Ma. Gracia Casals-Diaz, CPA is the General Accountant of SEC. She will discuss everything you need to know about financial disclosures including such topics as “Periodic Financial Disclosures”, “Issues and Pervasive Findings on Financial Reports”, “Materiality test on Incompleteness or Misstatement in the Financial Statement” and “Recent SEC Memorandum Circulars Relevant to Annual Financial Disclosures.” For more details, visit www.cgbp.org. You may also contact CGBP at (02) 842-7148/59 & (02) 556-8968/69 or email program leader Camille Jonas at [email protected].

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.