THE 2016 RULES OF PROCEDURE

OF THE
SECURITIES AND EXCHANGE COMMISSION
Pursuant to the Securities Regulation Code (R.A. No. 8799),
Corporation Code (B.P. Blg. 68), Presidential Decree No. 902-A, as
amended, and other related laws, the Securities and Exchange
Commission hereby promulgates the following rules of procedure to
govern the actions and proceedings before it:

PART I.
GENERAL PROVISIONS
RULE I. TITLE, SCOPE AND CONSTRUCTION
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SEC. 1-1.Title. These Rules shall be known as the The 2016
Rules of Procedure of the Securities and Exchange Commission.

SEC. 1-2. Scope and Coverage. - These Rules shall govern

pleadings, practice and
procedure before the Commission in all matters of hearing,
investigation and proceedings within its authority, excluding those
registration and accreditation matters which do not involve
violations of laws and rules and those requests for exemptive and
similar reliefs which are governed and referred to in applicable rules.

SEC. 1-3. Definitions. For the purpose of these Rules, the

following terms shall mean:

a. Adjudicative action or proceeding shall refer to any proceeding

involving the
determination of rights between opposing parties or the granting of
reliefs to parties within the powers of the Commission;

b. Administrative action or proceeding shall refer to any proceeding

involving the determination of any violation of laws, rules,
regulations, circulars, and orders being enforced by the Commission
and the imposition of appropriate penalties relative thereto;

c. Commission or SEC shall refer to the Securities and Exchange

Commission;

d. Commission En Banc shall refer to the highest governing body of

the Commission composed of Commissioners appointed pursuant to
the SRC acting as a collegial body;

e. Commissioner shall refer to the Chairperson or any of the

Commissioners of the Commission;

f. Corporation shall also refer to a partnership, association or any

other entity registered or licensed by the Commission; and
g. Decision shall refer to the whole or any part of the final
disposition issued by a
Special Hearing Panel, Operating Department, or the Commission En
Banc pertaining to any matter within its authority;

h. Director of the Operating Department shall refer to Head of the

Operating
Department or to the Head of the Special Hearing Panel when
applicable;

i. Electronic Service shall refer to the service by email on a person,

party or his counsel of papers, orders, decisions and resolutions
emanating from the Commission.

j. Hearing Officer shall refer to any officer of the Commission duly

assigned and/or authorized to conduct hearings or proceedings in an
action filed before or initiated by the Commission;

k. Investigation shall refer to an inquiry or proceeding by the

Operating Department that has authority over the subject matter to
determine, through the exercise of the powers enumerated in
Section 2-2, Rule II of Part II of these Rules, if there are sufficient
grounds to warrant the conduct of further proceedings in order to
determine whether the laws, rules, regulations, circulars and orders
being implemented by the Commission are being, or about to be, or
were violated, or are being abetted or aided to be violated by the
person being investigated;

l. Letter or Order shall refer to any directive, other than a Decision of

the Operating Department or Commission En Banc;

m. Operating Department shall refer to the Company Registration

and Monitoring Department, the Enforcement and Investor
Protection Department, the Corporate Governance and Finance
Department, the Markets and Securities Regulation Department, the
Office of the General Accountant, the Office of the General Counsel,
or the Extension Offices;

n. Person shall refer to an individual, or a corporation as defined in

Section 1-3 (m) of these Rules, or such other entities falling within
the authority of the Commission.

o. Special Hearing Panel shall refer to a panel of SEC officers duly

designated or
created pursuant to these Rules;

p. SRC shall refer to the Securities Regulation Code;

SEC. 1-4. Construction of Rules. a. These Rules shall be
liberally construed and administered to promote public interest, to
secure a just, prompt, expeditious, and inexpensive determination of
every action and proceeding
before the Commission and to carry out the objectives of the laws it
is mandated to implement.

b. In any particular proceeding, to the extent that there is a conflict

between these Rules and a procedural requirement contained in any
law, the latter shall control.

c. For purposes of these Rules:

1. Any term in the singular includes the plural, and any term in the
plural includes the singular, if such use would be appropriate; and
2. Any use of a masculine, feminine or neutral gender encompasses
such other
genders as would be appropriate.

SEC. 1-5. Suspension of Rules in Exceptional Cases. - In the

broader interest of justice and in order to best serve public interest,
the Commission may, in any particular matter, exempt it from these
Rules in exceptional cases and apply such suitable, fair and
reasonable procedure to improve the delivery of public service and
to assist the parties in obtaining a speedy and judicious disposition
of cases.

SEC. 1-6. Suppletory Application of the Rules of Court. The

pertinent provisions of the Rules of Court may, in the interest of
expeditious dispensation of justice and whenever practicable, be
applied by analogy or in a suppletory character and effect.