Invitation to Orientation on SEC Memo Circulars for NGOs

Dear AF Members,

Greetings of peace!

The Securities and Exchange Commission (SEC) has issued two memorandum circulars (MC) for compliance. One is MC 15 Series of 2018 (MC 15-2018) on the ‚ÄúGuidelines for the Protection of SEC-Registered Non-Profit Organizations from Money Laundering and Terrorist Financing Abuse‚ÄĚ and MC 17 Series of 2018 (MC 17-2018) on the ‚ÄúRevision of the General Information Sheet to Include Beneficial Ownership Information.‚ÄĚ Under the Guidelines detailed in MC 15-2018 , all SEC-registered Non-Stock Corporations are required to submit a mandatory disclosure form duly filled-out with the required information and submitted within 6 months from the issuance of the MC (therefore, around May 2019). On the other hand, the new GIS form prescribed under MC 17-2018 was supposed to supersede the old form effective January 2019. However, the date of effectivity of the new GIS form was moved to March 1, and then recently moved again to take effect on June 30, 2019.

We have received various inquiries pertaining the two MCs. To address the concerns and ensure that information that will be shared on the matter are accurate, the Association of Foundations (AF) and the Philippine Council for NGO Certification (PCNC) invited Atty. Sheara  L. Lupango-Tamayo, OIC of the SEC Special Operations Division and Atty. Alfonso D. Lanuza, Jr. OIC of the Anti-Money Laundering Division of the SEC Enforcement and Investor Protection Department to present the premise on why the SEC issued the circulars in the first place, what kind of information are actually being required for disclosure, and what will the SEC do with the new data that will be garnered from the new filings.

In this regard, we are pleased to invite you to an Orientation Session on SEC Memorandum Circulars 15 and 17 Series of 2018. This will be held on 27 March 2019, 1:00-4:30 pm at the GRF Training Center 1, Penthouse, Aurora Tower, Aurora Boulevard, Araneta Center, Cubao, Quezon City. Registration fee is P500 per person. Pre-registration is required by filling-out the Registration Form and submitting it to the AF Secretariat by email at or on or before March 19, 2019. Due to limited slots, we will initially accommodate only one representative per organization. You may submit additional names but they will be put on waitlist until March 19 during which we will confirm if we have extra slots for the additional representatives.

Download the Reply Form: Reply_Form_SEC_Orientation_New_MC.

Thank you very much!



(sgd) NORMAN JIAO                                                      (sgd) LUIS MORALES

Executive Director                                                           Executive Director

Association of Foundations                                         Philippine Council for NGO Certification