27/01/2026
📣 𝗦𝗘𝗖 𝗶𝘀𝘀𝘂𝗲𝘀 𝗿𝘂𝗹𝗲𝘀 𝗼𝗻 𝘁𝗲𝗿𝗺 𝗹𝗶𝗺𝗶𝘁 𝗼𝗳 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 𝗱𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀
The Securities and Exchange Commission has issued Memorandum Circular No. 7, Series of 2026, prescribing a maximum cumulative term of 9 years for Independent Directors of publicly-listed companies to strengthen board independence and promote good corporate governance.
The Circular provides guidelines on the computation of term, cooling-off period, and penalties for non-compliance, and shall take effect on 01 February 2026.
🔗 Read the full Memorandum Circular here: https://www.sec.gov.ph/mc-2026/sec-mc-no-07-series-of-2026/