The Securities and Exchange Commission (SEC) issued the new implementing rules and regulations (IRR) of the Investment Company Act (ICA), replacing the 1998 ICA Rule 35-1. The new set of rules, which took effect on January 26 2018, aims to develop the Philippine capital markets and help prepare investment companies to qualify for and compete in international cross-border transactions by aligning the rules with global standards and practices.
July 16 2018