SyCip Salazar Hernandez & Gatmaitan

IFLR Asia Pacific Awards 2024 recognized the J&T Express Initial Public Offering (IPO) on the Hong Kong Stock Exchange (HKSE) as Equity Deal of the Year, in ceremonies held on March 20, 2024 at The St. Regis in Hong Kong.

SyCipLaw has been featured for the first time in the recently launched The Legal 500 Asia Pacific Green Guide 2024.

The Securities and Exchange Commission (SEC) has extended the deadline for applications for amnesty for late and non-filing of annual financial statements (AFS), general information sheets (GIS), as well as non-compliance with SEC Memorandum Circular No. 28, series of 2020 (Requirement for Corporations, Partnerships, Associations, and Individuals to Create and/or Designate E-mail Account Address and Cellphone Number for Transactions with the Commission) (MC28).

Last March 1, 2022, the Securities and Exchange Commission (“SEC”) issued its Memorandum Circular No. 3 to implement the ceilings previously imposed by the Bangko Sentral ng Pilipinas (the Philippine Central Bank or “BSP”) via BSP Circular No. 1133, series of 2021 on interest rates and other fees imposed by financing companies, lending companies, and their online lending platforms.

BSP Circular No. 1085 defines “sustainable finance” as any form of financial product or service which integrates environmental, social and governance (“ESG”) criteria into business decisions that supports economic growth and provides lasting benefit for both clients and society while reducing pressures on the environment. This also covers green finance which is designed to facilitate the flow of funds towards green economic activities and climate change mitigation and adaptation projects.

What is the BSP’s objective in issuing Circular No. 1156 (the Guidelines on the Adoption of the Standard Business Loan Application Form or the “Guidelines”)?

On September 14, 2022, the Bangko Sentral ng Pilipinas (the Philippine Central Bank or “BSP”) issued Circular No. 1154 (the “New Circular”) to amend the guidelines on digital banks previously set out in Circular No. 1105 dated December 2, 2020 and Monetary Board Resolution No. 1536 dated November 26, 2020. Circular 1154 took effect on October 8, 2022, and clarifies the extent to which prudential banking requirements apply to digital banks, and amends the documentary and licensing requirements on the establishment of digital banks.

Financial Products and Services Consumer Protection Act On May 06, 2022, Republic Act (RA) No. 11765, or the Financial Products and Services Consumer Protection Act, was signed into law. It aims to provide more protection to consumers of financial products and services against abusive and fraudulent practices by strengthening the powers of financial regulators, laying down the duties and responsibilities of financial service providers, and providing financial consumers with additional rights and remedies. The law applies to financial products such as deposit, credit, insurance, pre-need and health maintenance organization (HMO) products, securities, investments, payments, remittances, and other similar products and services, including digital financial products.

In March 2021, the Philippine Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 014-21 (the Memorandum), which streamlines the procedures for non-resident corporations and other juridical entities (collectively "non-resident taxpayers") to access Philippine tax treaty benefits.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is the Philippine law firm that received the most number of “Tier 1” rankings for 2022 in The Legal 500 Asia-Pacific.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is pleased to announce the appointment of Ms. Imelda A. Manguiat, a senior partner of the firm, as the new head of its Corporate Services (CS) Department, effective on June 1, 2021.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is pleased to announce the admission to the partnership of Easter Princess U. Castro-Ty, Joanna Marie O. Joson, Maria Viola B. Vista, and Maria Christina C. Ortua-Ang.

SyCipLaw was ranked top tier level in all the relevant practice areas by the Legal 500 Asia Pacific 2021 ranking, the only Philippine law firm able to do so.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is pleased to announce the promotion of eleven Associates to the position of Senior Associates: Eleanor N. Balaquiao, Mark Kevin U. Dellosa, Norberto P. Geraldez, Jr., Anne Katherine P. Navarette, Javierose M. Ramirez, Loubelle L. Razon, Ramon I. Rocha, IV, Nikko Emmanuel D. Silva, April Gayle U. Soller, Jericho R. Tiu and Nathaniel Andrew Y. Uy.

Chambers and Partners Asia-Pacific Rankings has released its 2021 rankings of the leading law firms across the region. SyCipLaw is proud and honored to be listed alongside highly regarded firms in Asia-Pacific.

SyCipLaw recently wrapped up its Lawyers for Social Impact Project (LSIP) -- a year-long program where lawyers of the firm worked pro bono for social enterprises selected and supported by the Innovation for Social Impact Project (ISIP) of Philippine S&T Development Foundation – Manila, Inc. (PhilDev) -- with a virtual staff meeting attended by SyCipLaw lawyers, PhilDev officers and staff, and representatives of the firm's clients under the project.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has signed a Cooperation Agreement with Justice Without Borders (JWB), pursuant to which SyCipLaw may provide JWB with pro bono services in connection with cross-border claims by returning overseas Filipino workers against their former employers and/or recruitment agencies in Singapore or Hong Kong.

SyCipLaw’s Tax Department prepared a TIPS bulletin for the month of August.

Since 2017, SyCipLaw has supported the Ready for School program of the Philippine Business for Social Progress (PBSP), the largest business-led NGO in the country. These efforts have included sending teams to public schools to help prepare classrooms, paint chairs, sort and wrap books, and engage with teachers and students, all for the start of the school year. But this year, students will not be heading back to those classrooms. With the pandemic preventing most schools in the Philippines from holding regular classes to avoid infection outbreaks, schools will remain empty and the challenge for the country is how to push learning continuity for students and school-age children.

SyCipLaw’s Tax Department has prepared T.I.P.S. covering the following tax issues:

Analysts predict that the Philippine economy may contract by as high as 9% in the second quarter of 2020. The country’s financial managers and some policymakers are asking that Congress prioritize some key bills — the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), the Digital Economy Taxation Act, and An Act Ensuring Philippine Financial Industry Resiliency Against the COVID-19 Pandemic – in the hope that these measures can address the impact of the pandemic on business and the economy.

The COVID-19 pandemic has forced companies to change the way that they do business. The fact that the National Capital Region is currently under a Modified Enhanced Community Quarantine (MECQ), and prior to that, was under Enhanced Community Quarantine (ECQ) for two months since 16 March 2020, makes it difficult for Philippine domestic corporations to navigate the Philippine business landscape and conduct business as usual. There is a need to adapt, and the Securities and Exchange Commission (SEC) has issued a number of regulations in an attempt to address certain issues that companies are facing.

SyCip Salazar Hernandez & Gatmaitan’s (SyCipLaw) publication about the general guidelines in doing business in the Philippines has been updated. It aims to showcase the Philippines as an attractive venue for business ventures, to guide the businessmen and lawyers alike in their business decision making, and to help investors restart the Philippine economy in connection with the lifting of certain COVID-19-related quarantine restrictions.

The enhanced community quarantine (ECQ), declared over many areas in the Philippines, including the island of Luzon where the National Capital Region is located, has caused significant business disruption[1]. As in other jurisdictions, there are concerns that the country will see a rise in contract disputes and foreclosures, and even businesses invoking laws on suspension of payments, rehabilitation, and insolvency. The ECQ has also impacted court proceedings and other dispute resolution processes.

The Philippine Government has issued a slew of resolutions and circulars as part of its response to the COVID 19 pandemic and unsurprisingly, a number of legal and practical issues have beset businesses and persons under the Luzon-wide enhanced community quarantine (ECQ).[1] Like the rest of the world, the country is bracing itself for a new normal - in the way enterprises are run, services are rendered, everyday tasks are undertaken.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was formally introduced as a member of Philippine Business for Social Progress (PBSP), during PBSP’s annual members’ meeting and 49th founding anniversary celebration held last January 28. SyCipLaw is the first Philippine law firm to be admitted as a member of PBSP

SyCipLaw, which marks its 75th year this 2020, kicked off its jubilee celebration with “Pasasalamat”, an all-hands gathering at the SyCiplaw Center. Its highlights were a jubilee message from Hector de Leon, Jr., the firm’s managing partner, a thanksgiving Mass and interfaith prayers, and a special talk from retired Supreme Court Justice and SyCiplaw alumnus Vicente V. Mendoza.

SyCip Salazar Hernandez & Gatmaitan joined the kick-off activity of the Philippine Business for Social Progress’ annual “Ready for School” campaign last May 26 at the Taguig National High School in New Lower Bicutan, Taguig City. SyCipLaw volunteers helped prepare the school in time for the opening of classes last June. The activities included repainting of school chairs and blackboards, covering of books, construction of reading nooks, and cleaning of classrooms.

Asia Business Law Journal’s list of top 100 lawyers in the Philippines includes nine lawyers from SyCip Salazar Hernandez & Gatmaitan. The list was based on extensive research conducted by the publication, including nominations made by professionals in Filipino and global companies and law firms.

SyCip Salazar Hernandez & Gatmaitan’s Managing Partner Hector M. de Leon, Jr. is one of six finalists worldwide for TrustLaw’s Lawyer of the Year award. The award recognizes exceptional pro bono work. Public online voting is open until August 31 (Friday) through this link: www.surveygizmo.com/s3/4496581/Vote-for-TrustLaw-Lawyer-of-the-Year-2018.

Getting the Deal Through has published the 13th edition of Labour & Employment, which is available in print, as an e-book, and online. The Philippine chapter was contributed by SyCipLaw partner Ronald Mark C. Lleno, with support from senior associate Emmar Benjoe B. Panahon and associate Hans Cedric I. Santos.

Nine of SyCip Salazar Hernandez & Gatmaitan’s lawyers are included in the Asialaw Leading Lawyers 2018. The list features the leading lawyers in 18 practice areas in 24 jurisdictions in the Asia-Pacific region. Results are based on an extensive survey of in-house counsel and private practitioners.

SyCip Salazar Hernandez & Gatmaitan has been ranked by IAM Patent 1000: The World’s Leading Patent Professionals 2018 as a Recommended Firm. SyCipLaw IP department head Enrique T. Manuel and partner Vida M. Panganiban-Alindogan are also ranked as leading individuals.

SyCip Salazar Hernandez & Gatmaitan hosted the World Services Group (WSG) 2018 Asia Pacific Regional Meeting last March 13-14, 2018. The meeting was attended by over 40 representatives from 22 member firms worldwide, including Argentina, Australia, Brazil, Cambodia, Colombia, Hong Kong, Indonesia, Italy, Japan, Jersey, Macau, Malaysia, New Zealand, Philippines, Poland, Russia, Singapore, South Korea, Sweden, Taiwan, and USA.

SyCipLaw mourns the passing of Andres G. Gatmaitan, a name partner and a former managing partner of the firm. He died at the age of 78.

SyCip Salazar Hernandez & Gatmaitan hosted the Employment Law Alliance (ELA) Asia Pacific Client Conference last March 13, 2018. The meeting was attended by 57 representatives from 26 Philippine companies, and by 27 representatives from ELA member firms in China, Guam, Hong Kong, India, Indonesia, Japan, Laos, Malaysia, Myanmar, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, and Vietnam.

SyCip Salazar Hernandez & Gatmaitan hosted the Multilaw Asia-Pacific Regional Meeting last March 12-13, 2018. The meeting was attended by 31 representatives from Multilaw member firms in Australia, China, France, Germany, Indonesia, Japan, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, Thailand, UK, and Vietnam.

Norton Rose Fulbright’s 2018 and fifth edition of Insurance regulation in Asia Pacific – Ten things to know about 20 countries is now available. The guide provides an overview and practical checklist of ten common regulatory issues for insurance companies. SyCipLaw partner Hiyasmin H. Lapitan contributed the Philippine chapter.

The International Comparative Legal Guide (ICLG) to: Trade Marks 2018 has been published. The Philippine chapter of the guide was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan.

The World Bank Group’s Women, Business and the Law 2018 report is now finalized and available online. The fifth edition in a series of biennial reports, the publication measures gender equality in the law across 189 economies. It identifies legal obstacles to women who engage in economic activity around the world, encourages the reform of discriminatory laws, and tracks global progress toward achieving gender equality. SyCipLaw partner Leslie C. Dy contributed to the report.

The Legal 500 & The In-House Lawyer Comparative Guide on Mergers & Acquisitions is now available. SyCipLaw partner Franco Aristotle G. Larcina contributed the Philippine chapter.

Ricardo Ma. P.G. Ongkiko, head of SyCipLaw’s Litigation Department, recently gave the Welcome Remarks for the 1st Annual Center for the Amicable Resolution of Disputes International Conference held last February 9, 2018 at The Bayleaf Intramuros in Manila, Philippines. The conference was jointly organized by the Lyceum of the Philippines University (LPU) and the Philippine Institute of Arbitrators (PIArb), of which Mr. Ongkiko was the immediate past President and presently Chairman.

SyCipLaw partners Carlos Roberto Z. Lopez and Vicente D. Gerochi IV were nominated to the In-House Community’s Commended External Counsel of the Year, 2018.

SyCipLaw’s Tax Department hosted a seminar on the Tax Reform for Acceleration and Inclusion (TRAIN) last February 15 at the SyCipLaw Center. The event gathered 60 participants from 32 companies.

The World Bank Group’s Procuring Infrastructure Public-Private Partnerships 2018 report is now finalized and available online. The report compiles best practices and offers support to governments around the world to improve the quality of their regulations and to better deliver infrastructure service through public-private partnerships (PPPs).

Getting the Deal Through has published the twelfth edition of Vertical Agreements, which is available in print, as an e-book, and online. The Philippine chapter was contributed by SyCipLaw partners Arlene M. Maneja and Franco Aristotle G. Larcina.

Multilaw has released its new digital Real Estate Guide for Foreign Investors, which was launched at the MIPIM global real estate event in Cannes. SyCipLaw partner Benedicto P. Panigbatan contributed the Philippine chapter.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was once again ranked by Managing IP’s IP STARS 2018 as a Tier 1 firm in Patent and Trademarks/Copyright in the Philippines. In addition, SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan are ranked as Trade mark star – Philippines. Mr. Manuel is also ranked as Patent star – Philippines.

The submission deadline of the Justice Florentino P. Feliciano Arbitration Writing Competition has been extended to 5:00 pm of June 30, 2018. The competition is open to any student who, on the deadline for submission, is enrolled in the Juris Doctor or Bachelor of Laws program of any Philippine law school.

On January 19, 2018, Department of Finance (“DOF”) Secretary Carlos G. Dominguez issued Revenue Regulations (“RR”) No. 6-2018 which revoked RR No. 12-2013 and reinstated Section 2.58.5 of RR No. 2-1998, as amended by RR Nos. 14-2002 and 17-2003. Section 2.58.5 of RR No. 2-1998 implements the requirement of withholding of income tax for deductibility of expenses. RR No. 6-2018 was published in the Manila Bulletin on January 23, 2018 and took effect on February 7, 2018.

On January 31, 2018, Finance Secretary Carlos G. Dominguez issued RR No. 7-2018 which restored the provision on Notice of Informal Conference as a due process requirement in the issuance of a deficiency tax assessment. RR No. 7-2018 was published in the Manila Bulletin on February 1, 2018 and took effect on February 16, 2018. The Notice of Informal Conference is a written statement issued by the BIR informing the taxpayer of the discrepancies in the taxpayer’s tax payments for the purpose of conducting an informal conference wherein the taxpayer will be given an opportunity to present his side of the case. Download and read the complete Tax Bulletin on RR No. 7-2018. The bulletin was authored by SyCipLaw partner Carina C. Laforteza and associate Renz Jeffrey A. Ruiz.

The Philippine National Privacy Commission (NPC), which administers the country’s Data Privacy Act (DPA), has recently made available to the public copies of its advisory opinions. These opinions had been issued in response to various queries regarding the proper application and interpretation of the provisions of the DPA and its implementing rules and regulations.

SyCipLaw partner Carlos Roberto Z. Lopez has been recognized at the Client Choice Awards 2018.   The Client Choice Awards was established in 2005 to recognize law firm partners around the world who stand out for their excellent client service. This year, the Awards recognized 384 partners across 66 jurisdictions worldwide based on quality of legal advice, commercial awareness, industry knowledge, strategic thinking, billing transparency, tailored fee structures, value for money, responsiveness, effective communication, clarity of documentation, sharing of expertise, appropriate staffing, project management, use of technology, loyalty and ethics.

SyCip Salazar Hernandez & Gatmaitan joined fellow Employment Law Alliance (ELA) members in raising funds for the rebuilding and refitting of educational and daycare facilities in Dominica following the devastation caused by Hurricanes Irma and Maria in 2017. SyCipLaw is ELA’s exclusive member firm in the Philippines.

SyCip Salazar Hernandez & Gatmaitan is pleased to announce the promotion of Anthony R.V. Jacoba as senior associate effective January 1, 2018.

Chambers Global 2018 has ranked SyCip Salazar Hernandez & Gatmaitan as a Band 1 firm in Corporate & Finance and Projects, Infrastructure & Energy.

The International Comparative Legal Guide (ICLG) to: Litigation & Dispute Resolution 2018 has been published. The Philippine chapter of the guide was contributed by SyCipLaw partners Ramon G. Songco and Anthony W. Dee. 

The Philippine section of the Lexology Aviation Navigator is now online. The section was contributed by SyCipLaw partners Imelda A. Manguiat and Carina C. Laforteza, with support from senior associate Bhong Paulo A. Macasaet and associate Ma. Luisa D. Manalaysay-Sabornay. The chapter answers key questions on the regulatory framework, air carrier operations, consumer protection and liability, aircraft, accidents, airports, competition issues, dispute resolution, and recent developments and trends.

SyCip Salazar Hernandez & Gatmaitan collected a total of PhP55,100.00 and 169 books in support of the “Sa Pagbasa, May Pag-asa” storybook donation drive. The campaign advocates the exposure of public school children to a wide range of creative, interesting, and age-appropriate reading materials, and, in so doing, instill in them a culture of reading that is critical to the learning and development process.

SyCip Salazar Hernandez & Gatmaitan was recognized as Philippine Law Firm of the Year at the Chambers Asia-Pacific Awards 2018. SyCipLaw partners Rocky Alejandro L. Reyes and Russel L. Rodriguez received the award on the firm’s behalf.

The Philippine chapter of the Getting the Deal Through: Cybersecurity 2018 was contributed by SyCipLaw partner Rose Marie M. King-Dominguez, with support from senior associate Ruben P. Acebedo II. The chapter provides answers to key questions on the legal framework, best practice, enforcement, threat detection and reporting, and update and trends.

The Philippine chapter of the Getting the Deal Through: Country Focus 2017 was contributed by SyCipLaw partners Hiyasmin H. Lapitan and Franco Aristotle G. Larcina, and associates Anna Teresita A. Marcelo and Michael Trance Joseph M. Nuñez. The chapter provides answers to key questions on the legal landscape of the Philippines, including information on the legal framework, dispute resolution structure, foreign investment and trade, regulators, compliance laws, business operations, employment and intellectual property regulations in the country, among other resources.

SyCipLaw partner Arlene M. Maneja was a guest speaker on “Regulatory Framework for Renewable Energy” at the Bioenergy Mission to the Philippines co-organized by the Embassy of Canada in Manila and the Philippine Department of Energy.

Chambers Asia-Pacific 2018 has once again ranked SyCip Salazar Hernandez & Gatmaitan as a Band 1 Firm in Banking & Finance; Banking & Finance: Capital Markets; Corporate/M&A; Corporate/M&A: Real Estate; Dispute Resolution; Dispute Resolution: Arbitration; Employment; Intellectual Property; Projects, Infrastructure & Energy; and Tax.

The Philippine Institute of Arbitrators, in partnership with SyCip Salazar Hernandez & Gatmaitan (SyCipLaw), launched the first Justice Florentino P. Feliciano Arbitration Writing Competition.

The Legal 500 Asia Pacific 2018 has recommended SyCip Salazar Hernandez & Gatmaitan as a TOP-TIER FIRM in 15 practice areas. In addition, 14 of its lawyers are listed in the elite "Leading Lawyers" list and 7 are in the "Next generation lawyers" list.

The October 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update contributed by SyCipLaw partner Ronald Mark C. Lleno entitled, “Arbitration under the Construction Industry Arbitration Commission of the Philippines”. The article provides an overview on the Construction Industry Arbitration Commission (CIAC), its jurisdiction over construction disputes in the Philippines, and some of the issues concerning CIAC arbitration.

The Philippine chapter of Getting the Deal Through: Enforcement of Foreign Judgments 2018 was contributed by SyCipLaw partner Ricardo Ma. P.G. Ongkiko and associates Anthony Raphael V. Jacoba and Trisha Beverly C. Flores. The chapter provides expert analysis of key issues relating to the enforcement of foreign judgments. Topics covered include: treaties, regulations and conventions, limitation periods, types of enforceable order, competent courts, defenses, judicial requirements and procedures, significance of the enforcing jurisdiction’s public policy to the enforcement of foreign judgments, awards and enforcement process.

The October 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update contributed by SyCipLaw partner Ronald Mark C. Lleno entitled, “Arbitration under the Construction Industry Arbitration Commission of the Philippines”. The article provides an overview on the Construction Industry Arbitration Commission (CIAC), its jurisdiction over construction disputes in the Philippines, and some of the issues concerning CIAC arbitration.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is listed in various rankings in the Asialaw Profiles 2018. The firm is outstanding in Banking & Finance; Capital Markets, Construction & Real Estate; Corporate/M&A; Dispute Resolution & Litigation; Energy & Natural Resources; Intellectual Property; IT, Telco & Media; Labour & Employment; and Taxation. It is highly recommended in Projects & Infrastructure; and Shipping, Maritime & Aviation; and recommended in Competition & Antitrust.

SyCipLaw partner Hiyasmin H. Lapitan was a panelist on “Critical Regulatory Issues and Update from Jurisdictional Insurance Regulatory Lawyers” at the Joint Trade Asian Insurance Regulatory Conference 2017 last October 20 at the Marina Bay Sands Singapore. Ms. Lapitan and other featured insurance regulatory experts from Indonesia, Malaysia, Vietnam, China, Japan and South Korea discussed updates and shared insights on property/casualty insurance, life insurance and reinsurance developments in their respective countries.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) is named the 2017 Philippines Firm of the Year by Managing Intellectual Property (IP). The firm is also ranked in Patent, and Trademark and Copyright listings. SyCipLaw is Tier 1 in Trade Mark Prosecution, Trade Mark Contentious, and Patent. It is recommended in Copyright. 

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was recognized as the Philippines Firm of the Year at the Asialaw Asia-Pacific Legal Practice Awards 2017. SyCipLaw partner Leslie C. Dy received the award on the firm’s behalf.

Controllers and processors who have completed Phase I registration with the National Privacy Commission (NPC) will now have to gear up for Phase II. Phase II involves providing the NPC certain information on the organization’s compliance with the Data Privacy Act (DPA).

In its November 2017 cover story on the 2017 Asia Top 50, ALB lists SyCip Salazar Hernandez & Gatmaitan as the largest law firm in the Philippines. ALB’s Asia Top 50 is an annual list of Asia’s largest law firms by headcount.

Asia IP recognized SyCip Salazar Hernandez & Gatmaitan’s Intellectual Property (IP) practice in its various 2017 rankings this year. SyCipLaw is a Top Tier Philippine Firm in:  - Copyright, Asia IP Best of the Best: Copyright - Trademark Prosecution and Trademark Contentious, Asia IP Asia’s Leading Trademark Firms - Patent Prosecution and Patent Contentious, Asia IP Asia’s Leading Patent Firms

The Philippine chapter of Getting the Deal Through: Appeals 2017 was contributed by SyCipLaw partner Ramon G. Songco and associate Kathleen Kay A. de Guzman. The chapter provides key insight into the appellate stage of dispute resolution in the Philippines.

The Philippine chapter of the International Comparative Legal Guide to: Patents 2018 was contributed by SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan. The chapter answers key questions on patent enforcement, patent amendment, licensing, patent term extension, patent prosecution and opposition, border control measures, and antitrust laws and inequitable conduct. It also gives an overview on current patent developments in the country.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) received nominations for the Philippines Firm of the Year; Banking & Finance Firm of the Year; IT, Telecoms & Media Firm of the Year; and South-east Asia Firm of the Year categories of the inaugural asialaw Asia-Pacific Legal Practice Awards.

The IFLR1000 2018 rankings are out. SyCipLaw is ranked Tier 1 in all practice areas covered by their research. These are: Banking, M&A, Project finance, Capital markets, Project development, and Restructuring and insolvency.

For the second year in a row, SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was named Philippine Law Firm of the Year, Arbitration Law Firm of the Year, and Banking and Financial Services Law Firm of the Year at the 2nd ALB Philippine Law Awards. The firm also received the Construction and Real Estate Law Firm of the Year, while SyCipLaw partner Emmanuel M. Lombos was named Dispute Resolution Lawyer of the Year.

The International Bar Association’s (IBA) Taxes Committee published its annual update on tax developments by jurisdiction for 2017. The 2017 update includes a Philippine report by SyCipLaw partner Hiyasmin H. Lapitan entitled “Developments in Philippine Tax Laws and Regulations”. The Philippine report summarizes recent updates related to tax treaty relief, passed-on gross receipts tax, alternative modes of paying taxes, reduction of real property tax on independent power producers, and case law, as well as upcoming tax reform developments.

The August 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Arlene M. Maneja entitled, “Enforcement Update: Philippine Competition Act”. The article summarizes the administrative, civil and criminal penalties that apply to companies that have yet to comply with the Philippine Competition Act (PCA). The transitional clause of the PCA to enable parties to renegotiate agreements or restructure their businesses to comply with the law expired on August 7, 2017.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was recognized as the Philippine National Law Firm of the Year at the 2017 Asialaw Asia-Pacific Dispute Resolution Awards. SyCipLaw partners Anthony W. Dee and Ronald Mark C. Lleno received the award on the firm’s behalf.

Chief Privacy Officer (CPO) Magazine, an online publication owned by Data Privacy Asia, featured an article by SyCipLaw partner Rose Marie M. King-Dominguez. Entitled “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”, the article discusses the qualifications and responsibilities of a DPO as outlined in the Philippine Data Privacy Act of 2012. It also outlines difficulties companies may experience in the appointment of a DPO.

Six of SyCip Salazar Hernandez & Gatmaitan’s lawyers are listed in various Who’s Who Legal 2017 experts lists. Who’s Who Legal publishes 34 individual practice area guides covering corporate and commercial law, listing leading experts in these practice areas from over 150 national jurisdictions.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) has been shortlisted in twelve categories of the ALB Philippine Law Awards 2017. The firm is nominated for ten firm of the year categories, and two of its partners are nominated for lawyer of the year categories.

The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29. The Circular covers insurers, reinsurers, branch offices of foreign insurers, mutual benefit associations, pre-need companies, and health maintenance organizations and their intermediaries.

The Philippine chapter of The Public-Private Partnership Law Review 3rd edition was contributed by SyCipLaw partners Marievic G. Ramos-Añonuevo and Arlene M. Maneja. The chapter includes information on public-private partnerships (PPPs) in the Philippines, including general framework, bidding and award procedure, contractual arrangements, financing, and recent developments and decisions.

The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29. The Circular covers insurers, reinsurers, branch offices of foreign insurers, mutual benefit associations, pre-need companies, and health maintenance organizations and their intermediaries.

The Philippines section of The Tax Disputes and Litigation Review - Edition 5 contains information on commencing disputes, including national and local taxes; courts and tribunals; penalties and remedies; tax claims, including recovering overpaid taxes, challenging administrative decisions, and claimants; costs; alternative dispute resolution; anti-avoidance; double taxation treaties; areas of focus; and outlook and conclusions. The section was contributed by SyCipLaw partner Carina C. Laforteza with support from associate Mark Xavier D. Oyales.

The April issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner Hiyasmin H. Lapitan entitled “Philippines: Acquiring insurance brokers”. The article discusses the new requirement by the Philippine Insurance Commission (IC) for advance approval to acquire a stake in a Philippine corporation that is licensed as an insurance broker or reinsurance broker. This requirement is noted in the IC’s circular letter number 2017-09 dated February 14, 2017, which prescribes guidelines on the documentation requirements for acquiring a domestic insurance or reinsurance broker.

On June 13, 2016, the then Commissioner of Internal Revenue issued Revenue Memorandum Circular No. 62-2016 purporting to clarify the proper tax treatment of percentage tax or gross receipts tax (GRT) due on transactions covered by Sections 1211 and 1222 of the Tax Code which are shifted through contractual stipulations to borrowers/customers/clients (“passed-on” GRT). Banks, non-bank financial intermediaries performing quasi-banking functions are subject to GRT under Section 121 while financing companies and other financial intermediaries not performing quasi-banking functions are subject to GRT under Section 122. The effectivity of this circular was suspended on July 1, 2016 by the new Commissioner of Internal Revenue. However, on November 15, 2016, the suspension was lifted by RMC No. 127-2016 rendering RMC No. 62-2016 effective immediately.

In a decision issued on March 8, 2017, the Philippine Court of Appeals (CA) denied the petition by NGO Ang Aroroy ay Alagaan, Inc. and certain individuals, for the issuance of a writ of kalikasan against Filminera Resources Corporation, and its directors and officers. The petitioners have claimed that Filminera, which operates in the Philippine province of Masbate, had been causing environmental damage in the conduct of its mining operations in violation of local law, and that a writ of kalikasan should be issued.

The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.

The March issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner Jose Florante M. Pamfilo entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. 8-2013 (MC 8-2013) on the guidelines on compliance with the Filipino-foreign ownership requirements prescribed in the Philippine Constitution and/or existing laws by corporations engaged in nationalized and partly nationalized activities.

The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies. The report focuses on measuring regulations affecting 11 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.

The February issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner Aaron Roi B. Riturban entitled “Philippines: Promoting foreign investment”. The article focuses on Republic Act no. 10881, which lifts the foreign investment limitations found in laws governing adjustment companies, lending companies, financing companies, and investment houses. Read the article online at the IFLR website.

The World Bank Group has released Enabling the Business of Agriculture 2017. The report presents data on legal barriers for farmers, entrepreneurs and businesses operating in agriculture in 62 countries and across the topics of land, seed, fertilizer, machinery, water, livestock, finance, markets, transport, and information and communication technology (ICT). SyCipLaw's Rose Marie M. King-Dominguez, Alan C. Fontanosa, Franco Aristotle G. Larcina and Ruben P. Acebedo II contributed to the report.

SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) contributed the Philippine chapter of Icelandic law firm BBA’s handbook called the Geothermal Transparency Guide. The publication is intended to provide an overview of the legal and regulatory framework governing exploration, exploitation and production of electricity from geothermal resources. The Philippine chapter was contributed by SyCipLaw partners Hector M. de Leon, Jr. and Angel M. Salita, Jr.