Mandate for SEC-Accredited Corporate Goverce Training

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SEC MEMORANDUM CIRCULAR NO. 20, S. 2013: Mandate for SEC-Accredited Corporate Goverce Training

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Title Supreme Court: Mandate for SEC-Accredited Corporate Goverce Training

Law: Sec Memorandum Circular No. 20, S. 2013

Decision Date: Jan 1, 2014

All key officers and board members of publicly listed companies are mandated to complete annual corporate governance training from SEC-accredited providers, with proof of attendance required within ten days of program completion.

corporate governance

training providers

A

Mandatory Corporate Governance Training

Requires attendance in a corporate governance training program at least once every year.
Training programs must be conducted by providers that are officially accredited by the SEC.

Submission of Certificate of Attendance

Participants, through their corporation, are required to submit a Certificate of Attendance.
The certificate must be submitted within ten (10) days following the completion of the training program.

Legal Authority and Enforcement

The SEC exercises this regulatory and supervisory power under Section 5 of the Securities Regulation Code.
The circular is binding and aims to enhance corporate governance practices among PLCs.

Effectivity

The memorandum circular took effect on January 1, 2014.

Summary of Responsibility

The onus is on both the individual members/officers and the corporation to ensure compliance.
Training ensures the continuous enhancement of governance skills and awareness among key corporate leaders.

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