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Archive

May 26, 2016

A specter commonly experienced by the banking industry in congressional investigations is the compulsion of our congressmen and senators to disclose information relating to bank accounts.   Without dealing into specifics such as whether the secrecy of bank deposits covers instances where a bank account is alleged to be fictitious (an issue that only our courts of law can decide... Read More

May 17, 2016

Key in where you are. Key in where you want to go. Confirm that you agree with the estimated or fixed fare. Wait for a minute or two. A vehicle arrives to take you to your destination.    These all-too-familiar keystrokes are becoming a day-to-day routine for the commuting public in Metro Manila, which has gladly welcomed ride-sharing services or app-based transportation... Read More

May 12, 2016

In an advisory dated March 31, 2016, the Securities and Exchange Commission (SEC) limited the term of independent directors to a maximum of nine years.   The original rule under SEC Memorandum Circular No. 9, series of 2011, prescribed a 10-year term limit. This old rule, more popularly known as the “5-2-5” rule, provided that an independent director shall have an initial term... Read More
Kiarra Nastazsa Adrienne A. Cabile

May 11, 2016

In January 2016, the Senate approved Senate Bill No. 2981 (SB 2981) or the Expanded Maternity Leave Law of 2015 on its third and final reading. Under the bill, the duration of maternity leave for female employees in government service and in the private sector will be extended to one hundred (100) days, regardless of mode of delivery. Mothers around the country have lauded the bill yet some... Read More