New Guidelines on Sustainability-Linked Bonds Issuance Now Available

I. Background and Scope The Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 3, Series of 2023 or the Guidelines on the Issuance of Sustainability-Linked Bonds Under the ASEAN Sustainability-Linked Bond Standards in the Philippines (“SLB Guidelines”), which contains…

A Boost to ESG Investing: SEC Introduces New Rules on Sustainable and Responsible Investment Funds

The Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 11, Series of 2022 or the Rules on Sustainable and Responsible Investment Funds (the “Circular”), which took effect on January 3, 2023. The Circular laid out the rules governing Sustainable…

SEC Adopts the ASEAN Sustainable and Responsible Fund Standards and Establishes Rules on Recognition of Foreign Collective Investment Schemes

On April 13, 2023, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 4, Series of 2023 (“MC 4-23”) to adopt the ASEAN Sustainable and Responsible Fund Standards (“ASEAN SRFS”) and establish rules on the qualifications of local investment…