On January 8, 2017 Manifest reported that a revised Corporate Governance Code came into force in the Philippines on January 1, 2017. The code was developed by the Philippine Securities and Exchange Commission (SEC) and the IFC.
Chairperson Teresita Herbosa of the SEC said: “The new code is intended to raise the corporate governance standards of Philippine publicly listed corporations to a level on par with its regional and global counterparts. “The adoption of the ‘comply or explain’ approach is also expected to address the perceived overregulation of the SEC.”
You may read more on the Manifest internet site.