SEC MEMORANDUM CIRCULAR NO. 8, S. 2004

: The main purpose is to mandate certain companies to have at least one officer or director certified as a compliance officer by examination to ensure compliance with regulatory safeguards and observance of corporate governance principles.
: Section 5 of the Securities Regulation Code.
: At least one officer or director of the regulated companies must be certified as a compliance officer.
: By satisfactorily passing a written examination testing proficiency and knowledge of laws and regulations in their industry and corporate governance principles.
: Yes, provided they pass the required examination within one year from the issuance of the Circular.
: The Commission conducts seminars by module to provide comprehensive and intensive training.
: A penalty of Ten Thousand Pesos (P10,000.00) and Five Hundred Pesos (P500.00) per day of delay.
: Suspension of authority or registration.
: Fifteen (15) days from its publication in a newspaper of general circulation in the Philippines.
: Lilia R. Bautista.