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Request for Exemptive Relief

To allow applicant to exercise their right in seeking relief from any provision of the Securities Regulation Code and its implementing rules and regulations particularly on financial reporting, audit and other related matters.

  ● Revised SRC Rule 68;

  ● Philippine Financial Reporting Standards (PFRS)/ PFRS for Small and Medium Entities (SMEs) /PFRS for Small Entities (SEs) and interpretations;

  ● Philippine Standards on Auditing and related standards;

  ● Related rules of the Commission in financial reporting and audit;

  ● Guidelines; and

  ● Any subsequent official pronouncements, interpretations and rulings on accounting and reporting matters, which may be issued by the Commission from time to time.

Division &
Office of the General Accountant (OGA) – Accounting and Audit Policy Division
Classification: Highly Technical (20 days)
Type of Transaction: G2C – Government to Citizen
G2B – Government to Business
G2G – Government to Government
Type of Service: External Service
Who may avail: All
Guidelines During
1. Request for Exemptive Relief, (one original) Applicant
2. Supporting documents, if any. (one original) Applicant


1. Presents letter-request for Exemptive Relief and supporting document or send via email to 1. Prepares Payment Assessment Form (PAF) and instructs applicant to proceed process payment and present copy of O.R. None 10 minutes Executive Assistant
2. Receives the PAF and pays the required fees. 2. Processes payment and issues O.R. PHP50,000.00 (per issue and per company) 10 minutes
  The client may choose to pays via Electronic System for Payment to the SEC (eSPAYSEC) or over the counter payments at any Landbank branch nationwide.   If paid via eSPAYSEC, an electronic official receipt is generated which will serve as the official copy of the Client.   eSPAYSEC
  If paid via Landbank branch, the bank will issue a machine-validated onColl Payment slip which wills serve as the proof of payment of the Client.   Landbank
3. Submits a copy of proof of payment via eSPAYSEC or Landbank to the OGA with the application and its supporting documents, if any. 3. Inputs Letter-Request for Exemptive Relief or Memorandum referred by the Operating Department to Index Tracking System and forwards the same to the Assistant Director for assignment. None 5 minutes Executive Assistant
  3.1. Forwards document to assigned personnel. 5 minutes Assistant Director
  3.2. Evaluates the request. 11 days Assigned Personnel
   3.2.1. In case of complete supporting documents and justification, prepares a Memorandum for presentation to the Commission en Banc containing the results of evaluation and recommendation
   3.2.2. In case of incomplete justification with supporting documents, prepare an Advisement Letter to the requesting party that the subject matter is under evaluation and may require additional submission of documents.
  3.3. Reviews Advisement Letter or Memorandum for presentation to Commission en Banc. 2 days Supervising Accountant
  3.4. Reviews and discuss Advisement Letter or Memorandum. If the Letter/Memorandum is satisfactory, endorse the same to the General Accountant. 1 day Assistant Director
  3.5. Reviews and signs Advisement Letter or Memorandum. 4 hours General Accountant
  3.6. Reviews and signs Advisement Letter or Memorandum. 4 hours Supervising Commissioner
Office of the Supervising Commissioner
   3.6.1. If there is a submission of additional documents, GO TO STEP 3.2. 1 hour Assigned Personnel
  3.7. Presents Memorandum to the Commission en Banc for consideration. 10 minutes General Accountant
  3.8. Receives advice of the Resolution from Commission en Banc 3 days Assigned Personnel
   3.8.1. Prepares Advisement Letter containing the resolution of the Commission en Banc, notifying the party whether the request has been approved or denied
  3.9. Reviews Advisement Letter. 1 day Assistant Director
  3.10. Reviews and signs Advisement Letter 4 hours General Accountant
  3.11. Logs/Updates Index Tracking System 10 minutes Index Tracking Personnel
TOTAL   PHP50,000.00 (per issue and per company) 20 days  


The above processing time commences upon actual receipt of documents and payment of processing fee. It excludes the response period to comment and extension.