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Archive

September 30, 2015

In an effort to encourage more banks to spin off their trust operations, thereby allowing Bangko Sentral ng Pilipinas (BSP) to better supervise the activities of trust entities, the Monetary Board issued BSP Circular No. 884 on July 22 concerning the guidelines on the establishment and operation of trust corporations. The new circular aims to increase the competition in the asset management... Read More

September 23, 2015

As the late Justice Isagani A. Cruz puts it, “Philippine citizenship is a gift that must be deserved to be retained. The Philippines, for all her modest resources compared to those of other states, is a jealous and possessive mother demanding total love and loyalty from her children.” Philippine citizenship has always been valued and treasured by our Supreme Court as it once described it as... Read More

September 17, 2015

MORE than four years ago, President Aquino signed into law “The GOCC Governance Act of 2011,” principally authored by Senate President Franklin Drilon. The law was envisioned to be a game-changer: one that would not only stop the abuses within government-owned and -controlled corporations (GOCCs) but more importantly, to develop the potential of these GOCCs to be “significant tools for... Read More

September 09, 2015

In cases of termination due to just or authorized causes, the employer must comply with procedural due process. For just causes of termination of employment under Article 288 of the Labor Code, procedural due process comprises of the twin-notice rule: a notice to apprise the employee of the ground for which his dismissal is sought and a notice informing the employee of his dismissal, issued... Read More

September 03, 2015

After public consultations for approximately five years, the Securities and Exchange Commission (SEC) has approved certain amendments to the implementing rules and regulations of the Securities Regulation Code (SRC Rules). There are several amendments, but this column will focus on provisions seen to enhance the ability of companies to raise funds from the domestic market. The amendments are... Read More