Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names - CPA Davao : Accounting | Tax | Business - Outsourcing CPAs.

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2015-06-06

Amendment on the Guidelines and Procedures on the Use of Corporate and Partnership Names

The Securites and Exchange Commission En Banc in its meeting on April 16, 2015 resolved to amend the 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 2013 to read as follows:1
11. Unless otherwise authorized by the Commission, the words and phrases below can be used only by the entities mentioned :
    a. "Investment(s)" - by entities organized as investment house or investment company;

    b. "Capital" - by entities organized as investment house, investment company, or holding company;

    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;

    d. "National", "Bureau", "Commission", "State", and other words, acronyms, abbreviations that have gained wide acceptance in the Philippines - by entities that perform governmental functions;

    e. "Association" and "Organization" or similar words which pertain to non-stock corporations - by entities primarily engaged in non-profit activities;

    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 exchange, broker, dealer, commodity futures, broker, clearing agency, or pre-need company under the Securities Regulation Code (R.A. 8799).
1 Sec Memorandum Circular No. 5, Series of 2015


Below is the original SEC Memorandum Circular No. 21 (Omnibus Guidelines and Procedures on the Use of Corporate and Partnership Names), Series of 2013.




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