Practice question
Two beneficial owners hold an AND joint account with PHP6 million qualifying portfolio investment attributable to each. All registration, experience and other applicable requirements are met. The only dispute is whether Rule10.1.5.5 permits combined financial-capacity evaluation of this AND arrangement. Which answer is correct?
- Yes; the rule evaluates combined income, portfolio, net worth or gross assets for an AND arrangement
- No; every joint arrangement must always be treated as OR
- No; the rule permits combination only for AND/OR arrangements
- Yes; and it abolishes continuing compliance
- No; joint arrangements are omitted entirely from the amendment
Legal references
- SEC MC15 s2026, signed May13 2026, published May15 2026, amending SRC Rule10.1.5: https://www.sec.gov.ph/mc-2026/sec-mc-no-15-series-of-2026/ ; reproduced primary circular text: https://regalert.today/document/sec-mc-no-15-series-of-2026-further-amendments-to-rule-10-1-5-on-qualified-buyer-4cf3433b-b29f-4d35-90b6-eb3b0b48e5c8 Rule10.1.5.5(ii)–(iii).
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