Request for Comment on the Draft Memorandum Circular on New Guidelines on the Conduct of Corporate Governance Training and the Accreditation of Institutional Training Providers, Resource Speakers, and In-House Corporate Governance Training

The Philippine SEC published on 7 May 2026 a draft circular overhauling mandatory board-level governance training for all publicly listed companies, public companies, and registered issuers, expanding mandatory content to include OECD CG Principles, ASEAN Scorecard criteria, ESG reporting, and board responsibilities including director liabilities and conflict-of-interest rules. The reform directly raises the quality floor for what Philippine directors must know before they enter the boardroom, making it highly actionable for any SEA CEO or board chair building or refreshing their board. It also sets a benchmark other ASEAN regulators may reference as they update their own codes in 2026.