On 07 April 2006, the Philippine Securities and Exchange Commission (“SEC”) issued its SEC Memorandum Circular No. 6, which mandates the submission of the General Information Sheet (“GIS”), the General Form for Financial Statements (“GFFS”) and the industry-specific Special Forms for Financial Statements (“SFFS”) in electronic format, i.e., on diskette or compact disc. The said Memorandum Circular applies to:

SEC-registered domestic stock corporations with annual gross sales or gross revenues of at least Five Million Pesos (P5,000,000.00); Investment companies and publicly-held companies [cf. Section 17.2 of the Securities Regulations Code]; Investment houses or underwriters of securities; Pre-need plan companies; Brokers and/or dealers in securities; Financing companies; Government Eligible Securities Dealers; Transfer agents; and All other market participants and self-regulatory organizations (i.e., exchanges, alternative trading systems and clearing houses). Memorandum Circular No. 6 requires the GIS, in electronic format, to be submitted along with five (5) hard copies of the same within the holding of a corporation's annual stockholders' meeting. Likewise, the electronic format of the GFFS and the SFFS is required to be submitted within thirty (30) days from the last day of submission of a corporation's annual audited financial statements. Finally, in order to promote the submission of complete, accurate and reliable data in the GIS, GFFS and/or SFFS in electronic format, the said SEC Memorandum Circular requires the submission of a certification from one of the corporation's responsible officer that: (a) the electronic format of the GIS is in the same form and format as the hard copy; and/or (b) except for certain details/breakdowns required in the GFFS and/or SFFS, the Generally Accepted Accounting Principles in the Philippines prescribed accounts and figures provided in the electronic format are based on the contents of a corporation's annual audited financial statements, which was submitted to the SEC.

The prescribed electronic templates for the GIS, GFFS and SFFS are available for downloading from the SEC website.